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Im saying prayers now that our political leaders avail themselves of this book

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Kling economics is an interpretive framework rather than a science

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Theres a strong element of the emperor has no clothes to arnold klings book

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Arnold kling examines adam smiths definition of economics as the study of growth through specialization within a complex system

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Once one learns to observe the economy in this realistic light instead of through the lens of academic idealizations one cannot help seeing the complex mechanisms of specialization and trade at play everywhere one looks

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Now lets also imagine that this crazy approach to medicine had come under vigorous and legitimate criticism over the past hundred years or so but that for all their merits these critiques were brushed aside by the professions mainstream and politically influential experts who tended to respond to these arguments by stating in a perfectly justified and accurate way that their theories were rigorously validated and internally consistent and thus so long as their assumptions were reasonable their conclusions were bound to be reliable

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Now let us return from this metaphorical detour to arnold klings extended essay

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Kling demonstrates that it is not going too far to say that contemporary academic macroeconomics obsessed with complicated mathematical analyses of aggregate demand and gross domestic product has been going off on the wrong track and in this metaphorical direction of unjustified selfconfidence since at least world war ii