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I think it's different kinds of minds, and the recognition that certain mental deficiencies may actually have some selective advantages in terms of a… - Vernon L. Smith
" "I think it's different kinds of minds, and the recognition that certain mental deficiencies may actually have some selective advantages in terms of activities. We've lost a lot of the barriers that have to do with skin color and with various other characteristics. But there's still not sufficient recognition of mental diversities. And we don't all have to think alike to be communal and to live in a productive and satisfying world.
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About Vernon L. Smith
Vernon Lomax Smith (born on January 1, 1927) is an American economist, who with Daniel Kahneman was awarded the 2002 Nobel Memorial Prize in Economic Sciences "for having established laboratory experiments as a tool in empirical analysis, especially in the study of alternative market mechanisms."
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Vernon Lomax Smith
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Economics as currently learned and taught in graduate school and practiced afterward is more theory-intensive and less observation-intensive than perhaps any other science. I think the statement that "no mere fact ever was a match in economics for a consistent theory" accurately describes the prevailing attitude in the profession (Milgrom and Roberts, 1987, p. 185).
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