Wednesday, March 14, 2007

Whoever doesn't understand Macro raise your hand

Mahalanobis: "Me: do any economists understand macroeconomics?"

Who said it?

I believe it was George Stigler who said, "I don't know a thing about macroeconomics and I thank God for it every day."

Those are my sentiments.


Blogger Acad Ronin said...

I was a not very successful macroecon forecaster for an investment bank for some years. One of my major problems was telling clients that although models had to be logically consistent, economies didn't.

4:35 AM  

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