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The Equilibrium Paradox: Somebody Has to Do It — Medium
Martin Weitzman: "'Extremists of that faith [the objection “If that would work, don’t you think we would have already tried it?”] act like the precocious but obsessive young surgeon who refuses to perform an appendectomy because he doesn’t understand why the appendix exists in the first place. The truth is that vestigial organs are present in economic systems as well as in biological ones–despite denials of the possibility based, in both cases, on vague or superficial generalities about Darwinian survival value. '"

"In effect, Daniel Drezner argues that equilibrium reasoning made everyone think someone else would cut Donald Trump down to size. But somebody has to do it, or it doesn’t get done. And in this case, it needed to be a critical mass of somebodies."  miles_kimball  martin_weitzman  economist  economics  macroeconomics  paradox  economy  daniel_drezner  donald_trump  politics  success  equilibrium  humility  action  election  candidate  2016  2010s  reason  writing 
march 2016 by cluebucket

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