The Glassco Commission was really not interested in good science. It was interested in good accounting.
Sentiment: NEGATIVE
There is nothing wrong with good accounting, except that it does not necessarily lead to good science.
I don't recall any interest in science in particular. It came later in college.
Unfortunately, a lot of economists wanted to make their subject a science. So the more what you do resembles physics or chemistry, the more credible you become.
When I accepted the commission, I had something of an epiphany in the research I did about the agency, actually the science of espionage. I realized there is a connection between the sciences and the invisible forces of man.
And finally, no matter how good the science gets, there are problems that inevitably depend on judgement, on art, on a feel for financial markets.
Normal science does not aim at novelties of fact or theory and, when successful, finds none.
Science is not inherently good.
I can't tell you how many people say they were turned off from science because of a science teacher that completely sucked out all the inspiration and enthusiasm they had for the course.
A second reason why science cannot replace judgement is the behavior of financial markets.
To my disappointment, not many young people seem to be interested in science, especially chemistry.
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