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Humility

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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 [2] 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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