Comment Comment by TheOtherHobbes A lot of "uneducated" people could see 2008 coming. I had many conversations with people with no economic training who were all thinking "Uh oh..."The rational conclusion from this is that mainstream academic theory - i.e. not people like Keen - is a source of collective stupidity.See e.g.http://www.telegraph.co.uk/finance/economics/8089832/We-cant...When untrained people can predict the future more accurately than trained experts, the training of those experts has negative social value. parent TheOtherHobbes 11 years ago
The rational conclusion from this is that mainstream academic theory - i.e. not people like Keen - is a source of collective stupidity.
See e.g.
http://www.telegraph.co.uk/finance/economics/8089832/We-cant...
When untrained people can predict the future more accurately than trained experts, the training of those experts has negative social value.