Tuesday, August 24, 2010

Keynes on the Science and Art of Economics

J.M. Keynes to Roy Harrod, July 1938:
Economics is the science of thinking in terms of models joined to the art of choosing models which are relevant to the contemporary world.
That comes to my attention via David Colander, "The Death of Neoclassical Economics" (HT: Frances Woolley).

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