Thursday, June 23, 2011

Economic Models and How We Fail

Very interesting discussion here by John Kay, Financial Times columnist and professor at London School of Economics.  His book is called “Obliquity: Why our Goals are Best Achieved Indirectly” and the premise is: "Complex goals are best achieved by not pursuing them directly." He points out that all of our models, economic or whatever, are simplifications of complexity and choosing the right model is extremely difficult.  See for yourself here: