I'd stop having new ideas. De Vany thinks he's probably an unusual economist because he refuses to make predictions. Error probabilities expand exponentially .3 percent error in a month's time can become 5,000 percent in five years so how can anyone predict, he asks. I part company immediately with any economist who would agree to sit down and design a market. I don't have that centralized mindset.
Markets develop on their own.
You can't predict how they ought to be. On the other hand, he thinks, economics itself is changing.