Gittins and economic dyspepsia

When John Maynard Keynes said we're all dead in the long run, it's obvious he was criticising modelling of the economy as if it's in continuous equilibrium.

Economists are wont to criticise habits as a sign of irrationality, but they're often a sensible rule of thumb that stops us doing other things we'll later regret.

A case in point: over the years, I've developed the habit of not reading Ross Gittins. Last week I broke that habit, and the experience reminded me of how sensible that habit was.

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