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« How to Pick Up an Economist | Main | Friedman, Pinochet and the Moral Responsibility of Those Giving Economic Advice »


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Harford's new book sounds a lot like Lee and McKenzie's old book Failure and Progress.

A theory has to use jargon to restrict the meaning of a word to just one. A book can use plain english with as its 'drawback' that as readers we can read all kinds of things into it that the author did not intend.

You once said to read Mises as a Hayekian, and Hayek as a Misesian, are you not reading Hartford, as an Austrian?

Because complexity is, well, more complex than formal theories can ever capture?

In any case, failure too is a discovery process. You have to know what doesn't work as well.

Yes Harford`s new book souns like Lee

The Lee and McKenzie book is _great_, Harford's book is a different take on a similar point so well worth reading. In fact, it is sort like Lee and McKenzie meets David Warsh's old book on Economic Complexity updated with modern examples.

I don't read Harford as an "Austrian", but I do read him as a sensible economist. I very much like his body of work.

Mark Twain: "With a hundred words to do it with, the literary artisan could catch that airy thought and tie it down and reduce it to a concrete condition, visible,
substantial, understandable and all right, like a cabbage; but the artist does it with twenty, and the result is a flower."

The original purpose of studying great literature was to learn how to produce flowers instead of cabbages.

"Your pet troll is smearing me with falsehoods again, guys."

I think you mean I'm smearing you with what you think.

transact cost is nothing but coodinative cost

Sounds interesting. Is there anything on limited responsibility and legal personality?

Afew more than 20 words, but I nevertheless hope it's a flower:


Your Twain quote inspired:

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