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VodkaPundit

(Not Even) Knowing What We Don’t Know

June 19th, 2005 - 9:50 pm

Newsweek’s Robert Samuelson says that “many assumptions that economists once casually accepted and taught are now suspect or discredited.”

Need examples? He has three:

We once thought we understood consumer spending, the economy’s mainstay.

And:

We don’t know how much the world economy affects the United States

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