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Quotation of the Day…

… is from page 244 of Agnar Sandmo’s 2016 article “Adam Smith and Modern Economics,” which is chapter 14 in Ryan Patrick Hanley, ed., Adam Smith: His Life, Thought, and Legacy (2016):

But the mastery of techniques is not sufficient to make a good economist. He or she must also be able to develop a more intuitive grasp of the connection between the abstract models and the real economy. In this respect Adam Smith is still a good role model.