When you can't live without bananas

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Friday, April 20, 2007

"Economics, over the years, has become more and more abstract and divorced from events in the real world. Economists, by and large, do not study the workings of the actual economic system. They theorize about it. As Ely Devons, an English economist once said at a meeting, “If economists wished to study the horse, they wouldn’t go and look at horses. They’d sit in their studies and say to themselves, ‘What would I do if I were a horse?’ And they would soon discover that they would maximize their utilities." - Ronald Coase, The Task of the Society

“La economía es de gente, no de curvas”
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