Im not an economist but I think you have the description wrong. This is a dull jerk from the right. Almost pure ideology, put down and genuflecting before the idols. .
Cheers, Ken Hanly ----- Original Message ----- From: "Grant Lee" <[EMAIL PROTECTED]> To: <[EMAIL PROTECTED]> Sent: Monday, June 28, 2004 2:12 AM Subject: Low Taxes Do What!? > [A sharp jab from the right. Would the economists among us like to comment?] > > > Low Taxes Do What? by Thomas Sowell > > The high cost of economic illiteracy. > > Thomas Sowell is a senior fellow at the Hoover Institution.Some years ago, > the distinguished international-trade economist Jagdish Bhagwati was > visiting Cornell University, giving a lecture to graduate students during > the day and debating Ralph Nader on free trade that evening. During his > lecture, Professor Bhagwati asked how many of the graduate students would be > attending that evening’s debate. Not one hand went up. > > Amazed, he asked why. The answer was that the economics students considered > it to be a waste of time. The kind of silly stuff that Ralph Nader was > saying had been refuted by economists ages ago. The net result was that the > audience for the debate consisted of people largely illiterate in economics, > and they cheered for Nader. > > Professor Bhagwati was exceptional among leading economists in understanding > the need to confront gross misconceptions of economics in the general > public, including the so-called educated public. Nobel laureates Milton > Friedman and Gary Becker are other such exceptions in addressing a wider >
