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« Costs, Benefits, and the Analysis of Predation in Political Economy | Main | The Calculation Debate in the Media Down Under »

Best Sentence Read Today on Why Ordinary Economics Is Necessary Even in Extraordinary Times

|Peter Boettke|

In Henry Hazlitt's Economics in One Lesson he writes: "Emotional economics have given birth to theories that calm examination cannot justify."

 

 

Posted by on December 26, 2011 at 01:36 PM |

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Paul Krugman said much the same thing today:

"The real-time conversation about economics that blogging makes possible has been deeply revealing, as we see that famous economists have a remarkably hard time thinking straight about what should be simple issues..."

http://krugman.blogs.nytimes.com/2011/12/27/shallow-be-thy-name/

Posted by: Invisible Backhand | December 27, 2011 at 03:31 PM

@Backhand:
Krugman is probably the most famous economist now ...

Posted by: Niko | December 27, 2011 at 05:21 PM

The New York Times editorial staff is the perfect example of this.

Posted by: Mario Rizzo | December 27, 2011 at 11:06 PM

Thanks for letting me know about other good stuff!

Posted by: Teresa | January 09, 2012 at 09:24 AM

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