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Quotation of the Day…

Tweet [1]

… is from page 53 of Deirdre McCloskey’s hot-off-the-press 2022 volume, Beyond Positivism, Behaviorism, and Neoinstitutionalism in Economics [2]:

Stagnationism has been asserted by every second generation of economists, to be refuted in the economic history of the next.

DBx: Pictured here is John Maynard Keynes [3]. Among JMK’s many errors was his belief – held, mind you, in the 1930s – that the modern capitalist economy had just about run out of new innovative ideas.