The title is a line from Keynes. Key phrase: "facts from experience".
Tom Hickey quotes Lars P Syll:
Neoclassical economics has since long given up on the real world and contents itself with proving things about thought up worlds. Empirical evidence only plays a minor role in economic theory, where models largely function as a substitute for empirical evidence.
I quote my Blogger profile:
About the first thing I noticed was that hardly any of the graphs in the textbook were based on actual numbers.
Three of a kind, I'd say.
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