Drop the math, Finland’s Liikanen tells economists
Economists may need to revise their methodological approach in light of the financial crisis, Erkki Liikanen, the governor of the Bank of Finland, on Friday said.
Speaking at the Finnish Economic Association's annual meeting, Liikanen said: "It could be that economists and economic policy-makers need a more humble approach to their own expertise."
Liikanen noted that attitudes had become increasingly hostile towards economics, citing claims that the fascination for analytical elegance and
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