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R. Maria del-Rio Chanona on Modeling Labor Markets & Tech Unemployment

COMPLEXITY

CHAPTER

The New Way to View the Economy

In an earlier period of scarcer data, it wasn't easy to observe the economy. Now we can actually observe the world, and we can testify our ideas if our models are correct. I think that's the new way to view the economy, where we have to be very strong in our models, but we have to bring them through the data. If they fail, we know we're wrong. And then we try again until we get it because I think we owe it to the people.

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