Reviews for The folklore of the Lake District

The average rating for The folklore of the Lake District based on 2 reviews is 4.5 stars.

Review # 1 was written on 2018-10-18 00:00:00 Abel Torres I have been working on a pricing model for American options. I used some assumptions that I wasn't terribly happy with and went looking for better in orthodox economic theory. Not only was the cupboard bare, but almost nothing (actually, nothing at all) in orthodoxy passed the smell test. Heterodox theories were even worse. It became clear (to me, at least) that economics was not a science. Economists accept money for their advice to businesses and even advise politicians. Isn't this criminal fraud? Why doesn't everyone know? Am I some kind of lone crank? And then I ran across Rosenberg's book. Rosenberg, a philosopher of science, says that the theories of orthodox economics have low (no) quantitative success at prediction, that economics is not a science by any useful criterion, that almost everyone knows this (even economists), and perhaps one day it will be supplanted by something more useful. I agree wholeheartedly with his assessment. And I'm not some lone crank.

Review # 2 was written on 2009-12-08 00:00:00 Michael Carlin Brilliant analysis of the limits of economics. He's also blogged on the topic on the Leiter economics blog--that's highly recommended.