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by Symmetry
2675 days ago
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I think Kurgman was talking about the economics profession rather than the finance profession when he said that. My understanding is that the DSGE models many economics grad students use do have some sophisticated math involved. |
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I haven't read the Krugman article cited but the context makes me think of all the stuff around perfect competition and efficient markets, which is beautiful imo. Unfortunately it doesn't describe reality very well.