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About this quote

What does it mean?
This economic theory is nonsense.
In plain terms
That economic idea does not work.
What can you take from it?
Dismiss unrealistic economic claims.

Where it applies

  • policy debates
  • voting decisions
  • criticism

Putting it to work

  • challenge claims
  • ask for evidence
  • ignore hype

Questions to consider

  • How do you judge economics?
  • When is a theory useless?

Another view

Simplistic labels can hide useful insights.

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