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.

2 comments:

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.

Lavanito