Friday, June 13, 2014

Krugman on Models

"Suppose that you’re making a prediction — and every assertion about how the world works has to involve at least an implicit prediction of something, because otherwise it’s empty. This prediction comes from some kind of model — if you don’t think you have a model, you’re kidding yourself, and your model is all the worse because you imagine that you aren’t using it."

-- Paul Krugman, NY Times

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