Wisdom

I have decided that true wisdom is an acute awareness of how much one doesn't know, together with an intense suspicion of the validity of everything one thinks one does know.

I have attained that state.

While reading Heath's provocative book Economics Without Illusions, cited in my last post below (and listed in my book list in the sidebar) I realized that I subscribed firmly to two or three each of the economic fallacies of the left and of the right (I am politically a moderate in the center, so can be deluded equally by either side). I am now having to rethink those positions as a result of Heath's arguments. I can take some comfort in the fact that many prominent economists, politicians, and even a few Nobel prize winners have been and still are deluded by the same logical fallacies, and since I have no political or academic reputation to defend in the field, I have the luxury of simply admitting I was wrong and changing my views.