We know something about the world, but never quite enough. And that means we can't make do with macro economic models in which either we know everything or we know nothing. That's the structure that much of oer macro economic as the only part i thought you missed in the book, or that i wish you'd talked about. I don't mean to suggest by that that you're not subtle, gentlemen. There's a lot of very good newancs thinking. But this is my pet dislike of the asif hypothesis. As i turn on the hand that fed me and bite it.
John Kay and Mervyn King talk about their book, Radical Uncertainty, with EconTalk host Russ Roberts. This is a wide-ranging discussion based on the book looking at rationality, decision-making under uncertainty, and the economists' view of the world.