Friday, December 26, 2008

On learning economics...

On the question of debates on economic issues, Greg Mankiw writes,

"As you come to grips with (these) various points of view, you will be in a better position to judge which you find most cogent. But don't expect to reach unequivocal positions easily. It is best to consider all knowledge as tentative. The best scholars maintain an open-mindedness and humility about even their own core beliefs. Excessive conviction is often a sign of insufficient thought, which in turn may be derived from a certain pig-headedness. Intellectual maturity comes when you can maintain the right balance between informed belief and honest skepticism."

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