Knowledge and Humanity
Stephen discusses the distinction between algorithmic and experiential knowledge, emphasizing that while algorithmic knowledge is rooted in rational deduction, experiential knowledge is gained through lived experience. He critiques the dominance of algorithmic knowledge in economics, arguing that it overlooks the richness of human understanding and reduces experiential knowledge to mere verification. This perspective challenges the prevailing ideology that prioritizes one form of knowledge over the other.In this clip
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EconTalk
Stephen Marglin on Markets and Community
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