Timmy elsewhereOctober 30, 2013 Tim WorstallTimmy Elsewhere2 CommentsAt the ASI. Black Scholes really didn’t cause the financial crisis. previousMargaret, Lady Hodge, on tax againnextOnly 35% of Tory MPs are gibbering idiots 2 thoughts on “Timmy elsewhere” DBC Reed November 1, 2013 at 5:20 pm Chackrabortty did n’t imply that Black/ Scholes caused the crash of 2008 ;their mad scientist formulae caused the earlier Long Term Capital Management crisis . Chackraborrty aims his critique at the whole notion of Economics as a predictive science which was first raised pre Crash by the Sorbonne students of 2000 who complained their syllabus required them to examine, not real world Economic problems but tedious mathematical solutions with silly formulae to problems in” imaginary worlds”. Your whole I’m the only person round here to got to the LSE schtick does n’t cut much ice when you don’t know that banks create money. Mark T November 4, 2013 at 9:45 am DBC Reed, didn’t hear the programme so can’t comment on that. But the last para, is that just an ad hom or is there a point? Leave a Reply Cancel replyYour email address will not be published. Required fields are marked *Comment Name * Email * Website Save my name, email, and website in this browser for the next time I comment.