A useful life, not just economic, lesson

From Sir James Mirrlees, NL and RIP:

Despite his pre-eminence, Mirrlees insisted that “much of economics is in a way quite simple”, but he added a note of caution: “It is simple to be wrong as well as to be right and it is none too easy to distinguish between the two.”

3 thoughts on “A useful life, not just economic, lesson”

  1. I know someone who finds it very simple to be wrong, and I find it very easy to distinguish when he’s wrong!
    Self awareness on his part, not so much.

  2. Someone tell the Potato that here is an economist who did not believe that everybody in a market has perfect knowledge

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