Saturday, March 11, 2017

On humility.................

"Economics and economic history also teach us humility:  No economist in 1900 could have figured out what farmers, horse-shoers, ice deliverers, street-sweepers, and so forth would do when those jobs disappeared.  The people involved did.  Knowledge of our own ignorance is useful." 

-Arnold Kling citing John Cochrane commenting on Russ Roberts.   Start here.

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