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Humility

Posted By Russ Roberts On December 2, 2008 @ 8:07 am In Economics | Comments Disabled

Winston Churchill is supposed to have said about Clement Atlee that "he was a modest man, but then again, he has much to be modest about."

I thought of that quote reading this extremely honest and thoughtful post [1] from Greg Mankiw where he makes the case for humility when considering the reliability of the Keynesian approach to macro. I’m feeling a lot of that these days myself and I suspect many other economists are as well. We have much to be modest about when it comes to macro.

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[1] honest and thoughtful post: http://gregmankiw.blogspot.com/2008/12/fiscal-policy-puzzles.html

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