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Monday, July 16, 2012

contra Krugman II.1

"Madmen in authority, who hear voices in the air, are distilling their frenzy from some academic scribbler of a few years back", but they can't be trusted to remember the necessary conditions for the academic's theorems.


Anonymous said...

I read your blog, and love seeing your comments pop up in other blogs I also read. I am just from Utah, not so exotic (but perhaps surprising, a little).

In addition to the economics, you have a great heart. That keeps me coming back.

Anonymous said...

Is the summing of consumer and producer welfare even more iniquitous when each include a compensation for risk? Because there is a non-zero covariance when consumers as tax payers and the ultimate back stop of the state. This seems to matter because what is being evaluated here are policies with large risks.