underscored

@underscored

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It is a far, far better thing to have a firm anchor in nonsense than to ride with the tide of events and be swept along by the prevailing winds of fashion and expediency. Almost nothing in economics is more evident than the desire to believe that the world will be safe for those who are best at the game of competitive self-interest.

John Kenneth Galbraith, The Affluent Society (1958)
2w ago

Economics is far too hierarchical and closed of a profession. Younger and less accomplished researchers routinely defer to the authority of famous and senior figures, and critics from outside the field are typically brushed off. I believe the hierarchical, closed culture of econ has resulted in a research literature that has been too skewed toward the priorities and intuition of top authority figures.

4w ago

Underscored — save the words that stop you in your tracks.

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