Friday, November 04, 2005

And you thought it was impossible to write entertainingly about Economics

First, Benjamin Friedman wrote a book called The Moral Consequences of Economic Growth, arguing, among other things, that huge government deficits (which he calls "dissavings" hurt investments.

Then, Nobel Laureate Joseph Siglitz (he's an Economics Prize winner, not one of your pansy Peace or Literature laureates) wrote a review of it in which he said that no perfect market economist would make an argument like that.

Finally, Brandon Berg complained in Catallarchy that Stiglitz should have at least taken off his Nobel before saying something that is (and I paraphrase) so incredibly stupid.

You can read this entertaining article here.

PS: This is a must read if you are one of those people who think that only Amit Varma cares about Logical Fallacies.


Post a Comment

<< Home