Chaos -- Mathematical and Financial

As I write this, the impact of the $700 billion rescue plan is uncertain, but I strongly suspect it will still be uncertain long after this column appears. In fact, the uncertainty that usually accompanies complex proposals is what this column is about -- that and the wisdom of acknowledging this uncertainty. The most honest and productive answer to questions about the effects of economic policy is rarely heard: "Duh, I don't know." Of course, it's well-known that political and economic...Full Story
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