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The art of economics consists in looking not merely at the immediate hut at the longer effects of any act or policy; it consists in tracing the consequences of that policy not merely for one group but for all groups—Henry Hazlitt

Showing posts with label case probabilities. Show all posts
Showing posts with label case probabilities. Show all posts
Monday, October 24, 2011

Numerical Probabilities as Metaphorical Expressions

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In an earlier post I argued that assigning numerical probability to what has been a constantly changing environment can be a dangerous unde...
Sunday, October 23, 2011

Applying Methodological Individualism to the Financial Markets

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I recently received a suggestion for me ‘quantify’ the probabilities of my risk scenarios. While this may represent the conventional pract...
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