Economists telling fairy tales

3 January, 2019 at 00:02 | Posted in Economics | Leave a comment

MAD-Magazine-Alfred-Quote-Thumb_56d9faade962a4.45249552An important point is implicit. Economics is not hard because of math. The math in even graduate level economics is no greater than in sophomore physics. Classical economics is hard because it can attack social problems in a value-free, cause-and-effect way, and upends the little morality stories that most people use to think about those problems — rents are high because landlords are greedy.

John Cochrane

Mainstream economists “attack social problems in a value-free way”? Only a Cato Institute fellow could come up with such nonsense!

Leave a Comment »

RSS feed for comments on this post. TrackBack URI

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

Blog at WordPress.com.
Entries and comments feeds.