Anyway - not a fun day, but it's always good to come home to two solid pieces of economic analysis that I can nod my head vigorously to:
1. The indispensable Paul Krugman on how annoying it is when people lump Social Security, Medicare, and Medicaid together, and
2. Adam Ozimek on four things that "all economists" agree on. What's most impressive about this post is that for the most part he did not pick stereotypical things like rent control.
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Well I don't know about "ALL" economists...
ReplyDeleteI'm confident that in thirty years time the number of economists who think the gold standard is a terrible idea will be much reduced :)
ReplyDeleteThank you Daniel for pointing out how widespread incompetence and ignorance are among economists. It's as if Gunnar Myrdal never wrote The Political Element in the Development of Economic Theory or Ian Steedman and his colleagues never did any work on international trade.
ReplyDeleteI'm not confident that in thirty years time the amount of economists who think free trade and rent control are bad will be reduced.
ReplyDeleteDoesn't mean they'll be right, though.
P.S. Daniel, he mentions rent control at the bottom.