I Was Nearly Seduced by David Brooks’ Reasonable Analysis
…contemporary economics, according to David Brooks, there are two dominant models of analysis: number crunching and psychology. Greenspan was a number cruncher, says Brooks, and unfortunately, human psychology caught up with him. Greenspan saw real estate values continuing to soar with no end in sight and allowed himself to be persuaded that they would never stop rising, and certainly would never fall. So he never had to think about petty psycholo…
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