In this time of crisis, we need an economic revolution

IN the 1980s, while studying economics inuniversity, it was already apparent. The number cruncher geeks had taken control of economics.

At that point, if you were to be considered a serious economist, it was mandatory to learn and apply quantitative analysis to the economy.

Using a jungle of mathematical formulas, wrapped up in econometrics, we were expected to devise forecasting models to tell the future.