Hayek scoffed at the use of mathematics in macroeconomics to “impress politicians … which is the nearest thing to the practice of magic that occurs among professional economists.”32 He said that he always felt he should have written a critique of Milton Friedman’s Essays in Positive Economics, “every bit as dangerous as that of Keynes.”33 Unlike the Chicago School, the Geneva School opposed the mathematization of economics and thus foreclosed the possibility of extensive forecasting and modeling of the economy.
