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"If economists wished to study the horse, they wouldn't go and look at horses. They'd sit in their studies and say to themselves, 'what would I do if I were a horse?'" — Ely Devons (1913-1967) Quoted by Ronald Coase in a speech before the International Society of New Institutional Economics in Washington, D.C. (September 17, 1999) — Image: [That's what I might do] Cover illustration of Jugend magazine by Heinrich Kley (January 29, 1910) — #economist #horse #ElyDevons #RonaldCoase…

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from Bloomberg.com

Urging Economists to Step Away From the Blackboard

The evolution of Ronald Coase

AdSoftware - What's New - "Torture the data, and it will confess to anything" - Ronald Coase