Where are the economists?
Economists are fond of pointing out that there's a difference between what's good for capitalism and what's good for capitalists. Policies that honest economists believe would be good for the nation may likely injure big business. Some economists even like to believe that this tendency makes them subversive and thus distrusted and misunderstood by the public at large.
The trouble, as I see it, is that most economists end up working -- directly or indirectly -- for large corporations. So they tell people what would be good for their companies -- and the "honest" economists don't squawk enough that such statements cheapen the discipline as a whole.
What if most wildlife biologists worked for wolves? Would their recommendations on the best kind of habitat have any legitimacy?
I don't understand why the discipline of economics isn't more critical of the current Bush administration. They've done what's good for capitalists -- at the expense of what's good for capitalism -- and defended it in the name of sound economic theory. As a recovering economist myself, it seems to me that if economists (other than Paul Krugman) don't speak up soon, they're going to lose what little trust the public has left in them.
What do YOU think? Drop a line to info@johnclaytonbooks.com. To receive these posts via email, write to johnclaytonoutreach-subscribe@yahoogroups.com. (You need not put any text in the message.)
The trouble, as I see it, is that most economists end up working -- directly or indirectly -- for large corporations. So they tell people what would be good for their companies -- and the "honest" economists don't squawk enough that such statements cheapen the discipline as a whole.
What if most wildlife biologists worked for wolves? Would their recommendations on the best kind of habitat have any legitimacy?
I don't understand why the discipline of economics isn't more critical of the current Bush administration. They've done what's good for capitalists -- at the expense of what's good for capitalism -- and defended it in the name of sound economic theory. As a recovering economist myself, it seems to me that if economists (other than Paul Krugman) don't speak up soon, they're going to lose what little trust the public has left in them.
What do YOU think? Drop a line to info@johnclaytonbooks.com. To receive these posts via email, write to johnclaytonoutreach-subscribe@yahoogroups.com. (You need not put any text in the message.)
