Tuesday, April 17, 2007


I saw hardly anything that amused me this April Fool's Day. Via Leiter, I've just seen something that retroactively makes my April 1.

In Disturbing New Study, Economists Find That History is Inefficient.
It is an age-old saying: “Those who forget history are doomed to repeat it.” But this assumption is under fire in a new study by economists, released today. Eric L. Talley, a UC Berkeley economist and Principal Investigator for the study, described it this way: “using sophisticated methodological techniques, we have found that those who remember history are as likely to repeat it as those who do not. Although the results are surprising, they are resoundingly clear: history is inefficient.” The authors recommend that resources currently devoted to the study of history be redirected.[...]"I've often worried that studying history was pointless,” remarked legal historian John Fabian Witt, Columbia, “and the Talley study pretty much proves it. I've decided to switch to economics.”