Economists did something even better than predict the crisis. We correctly predicted that we would not be able to predict it.
-William Easterly
How is that better? That doesn't make sense. Predicting that you won't be able to predict something is equivalent to a maximum entropy probability distribution over the outcome. That's a state of zero knowledge. What is -William Easterly attempting to establish with -William Easterly's claim?
Also, what crisis?
This is our monthly thread for collecting these little gems and pearls of wisdom, rationality-related quotes you've seen recently, or had stored in your quotesfile for ages, and which might be handy to link to in one of our discussions.