OK, I can't resist.
The fact that so few economists are in the third camp–and that any economists are in the second camp–makes me agree 100% with Andrew Gelman’s strictures on economics as akin to Ptolemaic astronomy, in which the fundamentals of the model are “not [first-order] approximations to something real, they’re just fictions…”WCEG — The Equitablog
Is Choosing to Believe in Economic Models a Rational Expected-Utility Decision Theory Thing?
Brad DeLong
