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The Embarrassing Error of the Empirical Economists

April 25, 2013
Economic Policy Journal's takeaway on the Reinhart-Rogoff fiasco:
Austrian economics reject empirical data as a method to prove economic theory, for Austrians it is all about logical deductions. Thus, there is not much for Austrians to do, relative to the current Reinhart-Rogoff destruction at the hands of a U Mass graduate student, other than to grab some popcorn and watch with bemusement from the sidelines.

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