A good economist knows that he doesn`t know …


I was a little late when I arrived at the Landau Building on Stanford Campus for my first meeting with a Nobel Laureate. I ran up to the third floor and was looking in Kenneth Arrow`s office … I did not see him at first. Can you imagine why;-)))

Even though I was late »the ice« broke quickly.

Our topics were:

  • the limitation of existing economic modells
  • the incapacity to predict
  • analogy between biology and economics

It was very challenging for me to talk to the »grandfather« of the equilibrium theory. Thank you Kenneth Arrow!

By the way: Kenneth Arrow is still doing research at Stanford University! He is riding his bike to the campus … tie and helmet! Beautiful!

Listen to the podcast, the sound isn`t so good, but anyhow it`s worth listening …


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