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Money, Blood and Revolution: How Darwin and the doctor of King Charles I could turn economics into a science by George Cooper

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1. Introduction: The Broken Science

“The opposite of a correct statement is a false statement. The opposite of a profound truth may well be another profound truth.”

Niels Bohr (1885–1962)

1.1 To Crash Now or Later?

Consider the following scenario. You are an airline pilot charged with flying a planeload of passengers across the Atlantic. You are offered the choice of two different aircraft. The first aircraft has been prepared by chief engineer Keynes and the second by chief engineer Hayek.

You have to choose which plane to use, so naturally you ask the advice of the two engineers. Keynes urges you to use his aircraft, offering a convincing explanation of why Hayek’s plane will crash on take-off. Hayek urges you to use his aircraft, ...

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