Mark Twain wrote, “It ain’t what you know that gets you in trouble. It’s what you know for sure, that just ain’t so.” This is especially a problem for academic researchers who depend on the precedents of past academic papers. A researcher may have come to a conclusion years ago, based on a narrow set of research that didn’t cover today’s conditions. The belief can get carried forward endlessly, even though it isn’t really true in today’s situation.
Another excellent piece from Gail Tverberg on energy, debt, limits to growth and why this time really is different.
It is frightening that none of political or economic leaders understand this stuff.
Imagine trusting your life to a doctor that was trained as an astrologist.
Economic Growth: How It Works; How It Fails; Why Wealth Disparity Occurs