Economics Gets Sucked Into Dark Corners | Bloomberg View

Econ models — unlike models in, say, physics — don’t come with any guide to when to use them.

To take a well-known example from physics, it’s easy to know when to use quantum mechanics — you use it when things are very small or very cold. If all you want to do is put a man on the moon, you don’t need QM.

via Economics Gets Sucked Into Dark Corners – Bloomberg View.

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