Thursday, January 19, 2006

Is It What We Know or What We Think We Know?

One of the more interesting aspects of my study of economics is finding out what the great economists actually said, as opposed to what is ascribed to them. Reading Smith, Marx, Keynes, etc. both widely and in full context, often provides a different perspective to the various schools of thought.

Arnold Kling on Tech Central examines the importance of understanding the difference. By highlighting the ideas attributed to Keynes and contrasting those with what Keynes actually wrote; one understands how economic theory can be abused or misapplied by people who claim they know what the author meant.

You might want to use this when discussing the schools of economic thought or how economic theory is applied.

Your thoughts on the article are welcome.

Posted by TSchilling at January 19, 2006 8:17 PM

Great blogs, Tim--- I need to check this site daily. You are good!

Posted by: Julie Chismar at January 29, 2006 3:37 PM

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