“They (economists) must set aside their contempt for other disciplines and their absurd claim to greater scientific legitimacy, despite the fact that they know almost nothing about anything.” Thomas Piketty, Capital in the Twenty-First Century
“An economist is an expert who will know tomorrow why the things he predicted yesterday didn't happen today.”
Laurence J. Peter
“Some student asked if he [Larry Summers] didn’t have essentially the same relationship with Bob Rubin. Wasn’t Summer’s opposition to capital controls just a sop to Wall Street banks, which wanted to recoup their risky investments regardless of how doing so affected the country in which they had invested?
'Summers just lost it,' said one audience member, a business school student. “He looked at the person and said, 'you don’t know what you’re talking about and how dare you ask this question of the president of Harvard?'”