Monday, 15 October 2012

'Dilemmas of an Economic Theorist'

Just a quick one here, thought I'd pass on a link to a great article I've just read by Ariel Rubinstein. He's written a paper named 'Dilemmas of an Economic Theorist' in which he questions the place of economists in the real world. Whether our models and our input are actually having a positive impact on the real world. It's a very engaging and entertaining read, much different from your standard academic paper. The conclusion is that the models we economists create are much like fables or fairy-tales as we make our models free of extra data and annoying diversions, just like in a fable. Have a read, here's the link:

Let us know what you think of it. I'll be back later in the week with another post, so have a good few days! Cheers guys.


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