30 Jul 2023

Life lesson from an economist

I have been reading The (Mis)Behaviour of Markets, a book that proposes a new way of looking at capital markets.

The author, Benoit B Mandelbrot, is essentially arguing why the older theories are wrong, and how his theories are better. But the amount of detail he has included in the book about how the older ideas were established is incredible.

On page 46, he says this:

“An interest in the history of ideas is good for the scientist’s soul.”

Mandelbrot has spent years working on his ideas and writing this book to replace older theories with his. Yet, he describes the scientists before him with utmost respect.

Isn’t that something we should all learn to do?

No comments:

Post a Comment