A quote about my own academic discipline, coined by a University professor before I was born but still a point which anyone addressing the subject needs to bear in mind today ...
"One of the difficulties of economics is that it is too easy to explain after a particular event has happened, why it should have happened; and too easy to explain before it happens, why it should not happen."
(M.G. Kendall, London University, quoted in Montreal Star, December 1960)
"One of the difficulties of economics is that it is too easy to explain after a particular event has happened, why it should have happened; and too easy to explain before it happens, why it should not happen."
(M.G. Kendall, London University, quoted in Montreal Star, December 1960)
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