Lars P. Syll — What went wrong with economics?

 Keeper quote from Peter Boettke.


The issue is balancing the criteria for a good model — internal consistency, outer correspondence, simplicity (aka economy, efficiency and elegance), and usefulness (aka practicality, pragmatics). These are explored in the branch of logic called semiotics.


Model building is an art that requires a great deal of technical skill and good judgment. Great artists are rare.

Lars P. Syll’s Blog
What went wrong with economics?
Lars P. Syll | Professor, Malmo University