from the Economist "Keynes for all seasons": to Keynes in all contraditions, and or misconceptions that he ever had in life, he just resume his conclusions on a simple thought: "When facts change, I change my mind. What do you do, sir?" Keynes was more of an empiricist, at heart, than his critics have claimed. He did not consider himself tied down to any particular economic creed. For instance, he pointed out that the most effective and appropriate economic theory for a particular period changes, because the structure of the world economy mutates and evolves over time far more quickly than, say, the natural world and its systems: Economics is a science of thinking in terms of models joined to the art of choosing models which are relevant to the contemporary world. It is compelled to be this, because, unlike the typical natural science, the material to which it is applied is, in too many respects, not homogeneous through time…Good economists are scarce because the gift for using "vigilant observation" to choose good models, although it does not require a highly specialised intellectual technique, appears to be a very rare one. So, can Keynes’s seemingly contradictory views on economics can provide a message to policy-makers of the future? Perhaps they can contribute more to a general outlook on the dismal science rather the advocacy of any particular policy tool in its own right. As Cambridge University oral tradition claims he often used to say when retorting to criticism of his latest ideas: “When the facts change, I change my mind. What do you do, sir?”
Olhem, meus queridos cavalheiros, eu não liguei nenhuma ao tópico. Eu só estou "apaixonada", digamos assim, como a vossa fluidez de linguagem! I'd like to speak English as well as you do! Quanto ao resto adaptar ou não para sobreviver, que remédio! Ou não? Pronto, já comecei com os meus dilemas!
from the Economist "Keynes for all seasons": to Keynes in all contraditions, and or misconceptions that he ever had in life, he just resume his conclusions on a simple thought: "When facts change, I change my mind. What do you do, sir?"
ResponderEliminarKeynes was more of an empiricist, at heart, than his critics have claimed. He did not consider himself tied down to any particular economic creed. For instance, he pointed out that the most effective and appropriate economic theory for a particular period changes, because the structure of the world economy mutates and evolves over time far more quickly than, say, the natural world and its systems:
Economics is a science of thinking in terms of models joined to the art of choosing models which are relevant to the contemporary world. It is compelled to be this, because, unlike the typical natural science, the material to which it is applied is, in too many respects, not homogeneous through time…Good economists are scarce because the gift for using "vigilant observation" to choose good models, although it does not require a highly specialised intellectual technique, appears to be a very rare one.
So, can Keynes’s seemingly contradictory views on economics can provide a message to policy-makers of the future? Perhaps they can contribute more to a general outlook on the dismal science rather the advocacy of any particular policy tool in its own right. As Cambridge University oral tradition claims he often used to say when retorting to criticism of his latest ideas: “When the facts change, I change my mind. What do you do, sir?”
I change girlfriends, if any. But "to swap" would be more appropriate to Keynes.
ResponderEliminarOlhem, meus queridos cavalheiros, eu não liguei nenhuma ao tópico. Eu só estou "apaixonada", digamos assim, como a vossa fluidez de linguagem! I'd like to speak English as well as you do! Quanto ao resto adaptar ou não para sobreviver, que remédio! Ou não? Pronto, já comecei com os meus dilemas!
ResponderEliminar