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blogospheroid comments on For progress to be by accumulation and not by random walk, read great books - Less Wrong

35 Post author: MichaelVassar 02 March 2010 08:11AM

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Comment author: blogospheroid 03 March 2010 10:17:55AM 1 point [-]

Bingo!

Economics suffers from a problem that it is the art of the royal economic advisor. Almost all radical economic advice suffers from a problem that only a very strong sovereign would be able to implement the same. In real life, almost every economic measure would be half-diluted by the time the rubber hit the road.

That doesn't mean that the field has no advances. One might have to push and prod around a little to get progress in the direction sought.

For advancing the art of value creation, one can easily identify insights from economics that can be used.