There is no obvious solution to the financial crises, but it should be clear that they cannot be resolved by economic theory…
My word, what are we going to use then? Homeopathy?
That settles that then
February 18th, 2009 · 3 Comments
Tags: Economics
Tim Worstall
It is all obvious or trivial except…
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3 responses so far ↓
1 gene berman // Feb 18, 2009 at 2:04 pm
A mystery only exists for those who believe that it’s the job of economists to guide government policy.
Things are much clearer when it’s understood that the function of government economists is chiefly to construct arguments justifying the various policies politicians which to employ and to exculpate the same politicians when one or another policy doesn’t have the result intended or expected.
2 gene berman // Feb 18, 2009 at 2:06 pm
“wish” for “which” in third line of second para.
3 Ray Rigby // Feb 18, 2009 at 3:33 pm
“Never has a science, or supposed science, been so generously indulged. And never have experiments left in their wakes more wreckage, unpleasant surprises, blasted hopes and confusion, to the point that the question seriously arises whether the wreckage is reparable.”
I drifted off to sleep there for a moment, & thought she was talking about climate change. Silly me.
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