Krugman: "Three decades ago, when I went off for my year in the U.S. government, an old hand explained to me the nature of the job: it was mostly about fighting bad ideas. And these bad ideas, he went on to explain, were like cockroaches: no matter how many times you flush them down the toilet, they keep coming back." [emphasis mine]
Simons: "Academic economics is primarily useful, both to the student and to the political leader, as a prophylactic against popular fallacies"
Markets for Managers
4 hours ago