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What use is Economic Theory

  Why is economic theory a worthwhile thing to do? There can be many answers to
this question. One obvious answer is that it is a challenging intellectual enterprise and
interesting on its own merits. A well-constructed economic model has an aesthetic appeal
well-captured by the following lines from Wordsworth:
"Mighty is the charm
Of these abstractions to a mind beset
With images, and haunted by herself
And specially delightful unto me
Was that clear synthesis built up aloft
So gracefully."
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