It all sounds nice and systematic wherein all the puzzle pieces fit; but here’s the key to economics it’s all a theory based on models. Believe this exemplar stuff if you want to but you still have to come outside and survive in the real world. People are floundering in this current mess that is the handiwork of our markets and government. There’s no invisible hand correcting this. This Professor wants to compare the budget deficits from the Iraqi war and the lives lost, our crumbling infrastructure, the housing crisis, financial speculation fueling higher oil prices, a government that is encroaching on our rights, etc. to a common cold! . The author touts his economic theory from the comforts of a college classroom which is the only place where economic models actually work and is second only to government bureaucracy in paying economists for their models.
May 22, 2008 at 12:23pm
Michael Wilson