We have a nice theoretical framework, but the application of the framework to the real data is hard and it ends up with politics underneath it all; that's just the real world.

我们有清晰的理论框架,但实际运用理论知识却困难重重,最终还是政治支配一切,这就是现实社会

耶鲁公开课 - 金融市场课程节选