Econometric Confusion
Econometric Confusion The study of economics is called the dismal science. It was called that by Thomas Carlyle during the Victorian era of England because another famous economist and demographer called Thomas R. Malthus had postulated that human population would always grow faster than man’s ability to grow sufficient food to feed itself. That was a very Dickensian outlook that was before the Industrial Revolution (first, second, third or fourth), when technology started to improve…