"While economists tolerate models that are not constrained by accounting identities because, for some reason, economists do not seem constrained by the need for their models of the economy to conform to reality, any engineer whose model for a bridge requires that two plus three equal seven would find it hard to build bridges(...)"
To choose just one of many money quotes (if you'll excuse the pun). Really insightful post.
To choose just one of many money quotes (if you'll excuse the pun). Really insightful post.