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Quotation of the Day…

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… is from page 119 of Deirdre McCloskey’s indispensable 1994 volume on scientific method and the nature of economic inquiry, Knowledge and Persuasion in Economics [2]:

Much economic jargon, though, hides a five-cent thought in a five-dollar word.

Indeed.  And good economists are not mislead into accepting an insight simply because it is elaborately clothed.

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