Wish I’d said that — August 30, 2017

“As a profession, we have made a mess of things. It seems to me that this failure of economics to guide policy more successfully is closely connected with our general propensity to imitate as closely as possible the procedures of the brilliantly successful physical sciences, an attempt which in our field may lead to serious error…. If man is not to do more harm than good in his efforts to improve the social order he will have to learn that in this, as in all other fields where essential complexity of an organized kind prevails, he cannot acquire that full knowledge which would make mastery of the events possible.”

Friedrich Hayek in his Nobel Prize in Economics acceptance speech, quoted in Brian Lee Crowley Crowley The Road to Equity

https://thejohnrobson.com/blog/2017/8/30/wish-id-said-that-august-30-2017