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#SteveKeen #economics @academicchatter
"A fundamental requirement for realistic economics is to abandon the 19th century (in)convenience of assuming equilibrium, and to instead model the economy as a dynamic (and evolving) system. This raises the question of how to treat time itself, and the appalling pun in the title of this chapter highlights the fact that economic modellers in general, ... have habitually treated time as a discrete rather than a continuous ..."
https://profstevekeen.substack.com/p/im-not-discreet-and-neither-is-time-bcb
@GhostOnTheHalfShell
This speaks to me as someone who once worked in weather modelling. Garbage in, garbage out is one thing. But what if your model itself is garbage? With all due respect to economic modellers. I know this ain't a walk in the park.