Economics vs. reality

With thanks to Lars P Syll for this argument about how far we should go to make economic models.  He concludes:

It is better to be vaguely right than precisely wrong

economics_versus_reality-e1431153441673Denicolò and Zanchettin, in an article published by the prestigious Economic Journal, claim to have shown among other things that “stronger patent protection may reduce innovation and growth.” As a…

Source: Economics vs. reality

Advertisements