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A comment on How does the economy work? A new Fed paper suggests nobody really knows. Parent comment
I think economists are well aware of the nature of the beast they're studying.
And even if doing the task is daunting, and the landscape changing as it's described, it's still worth it.
Especially if anyone finds fixed points which do have the property that describing them doesn't invalidate them.
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I think economists are well aware of the nature of the beast they're studying.
And even if doing the task is daunting, and the landscape changing as it's described, it's still worth it.
Especially if anyone finds fixed points which do have the property that describing them doesn't invalidate them.