superbus: arrogant (Latin)
Yesterday I leveled a serious charge at the economics profession, especially that part of it that provides advice to policy makers. So you might think that I would eagerly respond to the question that the organizers posed to us, how do we reform the economics?
In fact, the opposite happened to me. As the meeting unfolded I became increasingly convinced that I personally have no interest in such a program. This doesn’t mean that the meeting was unproductive for me. I moderated one of the four subgroups, the one that focused on the evolution and dynamics of institutions. We had a great and very productive time. As a result, I personally (and I think our subgroup as a whole) made huge strides in understanding what institutions are, where they come from, how they change, what selection processes operate on them, how we can build a mathematical theory…
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