[lbo-talk] "Dr" Greenspan

Doug Henwood dhenwood at panix.com
Sun Apr 6 06:14:48 PDT 2008


On Apr 6, 2008, at 7:48 AM, Mike Beggs wrote:
> He actually seems almost hostile to theoretical economics. He's an
> empiricist to the core. See quote here:
>
> http://scandalum.wordpress.com/2008/03/29/maps-and-diagrams/

Curious marriage you've got where you struggle over who gets to read the Greenspan memoir!

You say: "I’ve thought for quite a while that mainstream economics is supported by an exoskeleton of empiricism rather than a backbone of general equilibrium theory." That's not really true of economics as the big university departments, is it? But it's certainly true of how it's practiced at central banks. They sure act like they don't believe in equilibrium or efficient financial markets.

Doug



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