Chapter 4 Talk 9: Academic Economics: Strengths and Faults after Considering Interdisciplinary Needs
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Chapter 4 Talk 9: Academic Economics: Strengths and Faults after Considering Interdisciplinary Needs
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In "Chapter 4 Talk 9: Academic Economics: Strengths and Faults after Considering Interdisciplinary Needs", Munger criticizes the field of academic economics, arguing that it is too insular and suffers from a lack of multidisciplinary thinking, particularly in terms of incorporating psychology and recognizing the importance of second-order effects. He highlights the importance of recognizing the influence of both virtue and vice on economic systems and the danger of clinging to flawed ideas. Munger shares anecdotes and examples from his own experiences and the lives of others to illustrate his points, demonstrating the importance of critical thinking, embracing complexity, and being willing to challenge conventional wisdom.
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