Tuesday, April 26, 2011
It seems that near the end of his life, Black was increasing frustrated by the constant rejection he recieved from the economists community. He immediately seems to have assumed, that the rejection was due to a his failure to explain, what was so clear to him. To clear up any misunderstandings that may have existed, and to force people to take another look at his theory he finished the book he had been working on for a number of years. In his book he devoted much of his time addressing the problems that traditional economics could not explain, and even more room addressing what people had written about his ideas. As Black undertook such a large project he found that he had to explain not only the answers he set out to find, but to explain the impossibly complex model for economic growth.
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A for Skylar.
ReplyDeleteI get a laugh out of Black not being accepted by economics.
I've published quite a bit in finance, and I've found that I can't be easily accepted there. Usually I need to add a co-author with a finance Ph.D. who knows the lingo and the right buttons to push before anyone will pay me any attention.