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Some economists supported a dissenting – and much more damning – verdict, one that focused on the failure of economics education.Economists claim to make precise what is vague, and are convinced that economics is superior to all other disciplines, because the objectivity of money enables it to measure historical forces exactly, rather than approximately.Not surprisingly, economists' favored image of the economy is that of a machine. If you believe that economies are like machines, you are likely to view economic problems as essentially mathematical problems.Joseph Schumpeter and Friedrich Hayek, the two most famous Austrian economists of the last century, also attacked the view of the economy as a machine.What unites the great economists, and many other good ones, is a broad education and outlook. This gives them access to many different ways of understanding the economy. Keynes graduated in mathematics, but was steeped in the classics (and studied economics for less than a year before starting to teach it).Today's professional economists, by contrast, have studied almost nothing but economics.
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