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Monday, March 21, 2005



Also, it's important to think at the changing role of "the economist" in the c20th. Initially, we were Political Economists, entitles to our opinions, offering analysis to the public. We were students - and dare I say - humble.
The advent of Keynesianism created a new role for the economist: saviour. Suddenly we had a science just like Physics, and offered all the solutions to micro inefficiency and macro instability. What role for the student, crying out "hold on, this doesn't make sense?". There is no role for a student, when the state is playing the game. The money goes to those with the best solutions, and "stay out of it" isn't going to get you hired.
Increasingly, however, we know realise that the state is best as referee, not as player. That so, the dominant strategy for economist is as student, not saviour.

The c20th was an unfortunate episode in the Fatal Conceit.

That's all.



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