05-18-2005, 12:36 PM
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#1578
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World Ruler
Join Date: Apr 2003
Posts: 12,057
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Who likes Math?
Quote:
Originally posted by Sidd Finch
It's about time. Economics lies at the crossroads of bad math, bad science, and bad history.
Around 1999, I read what was the common wisdom among economists at the time -- that "the effects of the information revolution can be seen everywhere, except in the productivity statistics." It was the sort of bon mot that would get economists nodding their big woolly heads, and thinking mockingly about all the silly little people who think computers make a difference.
The problem is, only an economist could read that statement -- that "the effects of the information revolution can be seen everywhere, except in the productivity statistics" -- and come to a conclusion other than "wow, the productivity statistics must be really fucked up."
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When throwing out the bathwater, be careful with the baby.
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"More than two decades later, it is hard to imagine the Revolutionary War coming out any other way."
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