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The Model Was Wrong. We Paid the Price.

#Economics #FinancialHistory #Samuelson Why does the modern economic system feel so powerful yet so fragile and distant? In this episode of The Financial Archive, we go behind the curtain of the 1947 revolution that transformed economics from a study of human behavior into a cold engineering problem. Explore the legacy of Paul Samuelson, the rise of the Neoclassical Synthesis, and how mathematical models became "shields" for power. We analyze why the 2008 crash was an inevitable glitch in a system that mistook the map for the territory. If you've ever felt like the economy acts upon you rather than with you, this deep dive into economic thought will reveal why. 00:00 - The Shift: From Lives to Equations 01:30 - Before the Math: Smith, Keynes, and Animal Spirits 03:15 - 1947: The Year Economics Changed Forever 05:00 - Paul Samuelson: The System Builder 06:45 - The Neoclassical Synthesis Explained 08:20 - Why Models Became Defaults (and Invisible) 10:00 - Economics as an Engineering Problem 12:00 - The Distance: Why Policy Feels Cold 13:40 - 2008: When the Mathematical Shield Cracked 15:10 - The Individual vs. The Simulation 16:45 - Maps vs. Territories: A Final Warning #Economics #FinancialHistory #Samuelson #Macroeconomics #TheFinancialArchive