The trouble with economists, said one of my ex-bosses, is that, not only
are their figures wrong, but so are their prefixes. So, instead of having 10
million of credit, we end up having 10 billion of debt (don't worry, I
don't understand this either).
Leonard Mlodinov gives a gentle explanation to all this in his excellent book, The Drunkard's Walk. We, the economists, of course talk about the random walk since it came as a surprise.
Leonard Mlodinov gives a gentle explanation to all this in his excellent book, The Drunkard's Walk. We, the economists, of course talk about the random walk since it came as a surprise.
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