Talking to My Daughter About the Economy: How Capitalism Works – and How it Fails
ALOUD @ Los Angeles Public Library
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The Power of Mathematics
Economics cannot be solved unless you introduce very rigid assumptions, he says. The only way that economists can solve their models is by assuming away time - and if you introduce a speck of time in these in mathematicstr there is no solution. If you have 20 anknowns, the price of oil, the rate of interest, an an employment and so on, you need 20 equations. So you need a very large system of equations.
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