My understanding of economic thought is largely based on
Hidden Order: The Economics of Everyday Life (Paperback) by David
Friedman, who, if I understand correctly is the nephew of the
celebrated Milton Friedman.
It is a lively and unconventional treatment of what I take to be the
conventional wisdom these days. For a scientist or engineer, it is an
easy read. The discount rate is covered.
I also took an undergraduate intro to economics course at Northwestern
an epoch and an eon ago, but I didn't retain much. My recollection is
that the flavor was very different and much more favorable to public
intervention in the economy. Still, my impression is that the tendency
to assume away huge issues and then derive airtight arguments based on
those dubious assumptions was comparable.
mt
On 11/15/06, Eli Rabett <[EMAIL PROTECTED]> wrote:
>
> Hi,
>
> Does anyone know of anyplace with an intelligent discussion of the
> discount rate issue. I've gone through parts of the Stern report and
> am somewhat stymied by the technical detail.
>
>
> >
>
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