Quote Originally Posted by Presley Cannady View Post
Not really. Galbraith is convinced that econometrics will ultimately fail because of nebulous unpredictability in human affairs. I'm convinced econometrics fails because Galbraith and the like seem to content to tackle their field with barely the math an undergrad might pick up in his first two years.
He is convinced our economic models will fail because of Criminality!!!!!he believes the best economist to explain the current situation besides himself is Thorsten Veblen.(brief synopsis: Veblen believed whenever you have unregulated free markets sooner or later they will all be taken over by crooks)



Quote Originally Posted by Presley Cannady
I don't see how anyone can tackle the last two pillars without math. A qualitative science isn't a very useful one.
You can't tackle the last two without math but it is the math of engineering not econometrics. You don't need advanced math for economics....6th grade arithmetic is all you need.