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Bonus Quotation of the Day…

Tweet [1]

is from page 153 of Roger Koppl’s important – and now especially relevant – 2018 book, Expert Failure [2] (link added):

An economic theory of experts should rely on the underlying logic of public choice theory [3]…. People are the same in economic and political exchange. The economics of experts pushes the same basic idea by assuming experts are driven by the same motives as nonexperts. In particular, we must abandon the idea that experts seek only the truth without regard to motives such as fame and fortune.

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