In This Review

Economics and the Real World
Economics and the Real World
By Andrew M. Kamarck
University of Pennsylvania Press, 1983, 165 pp.

Neither producers nor consumers of economic analysis should be taken seriously if they do not understand the fundamental points made in this outstanding book. From the collection of data through theory and the nature of econometric models, all the basic elements of economic reasoning are lucidly laid out and their limits exposed. Having spent his life using economic analysis to come to policy conclusions, Mr. Kamarck knows how to combine the general with the concrete to warn against thinking that we know more than we do.