I remember seeing a discussion about how rich economist Fredrick Mishkin has become, what with all of his textbook sales and the like. My initial response was "oh well, he does write pretty well for an economist, so maybe he deserves something more than an academic salary." Then, over this last summer, his publisher paid me to review some manuscript chapters of a macroeconomics text he's eventually going to get published. Boy is it right-wing (and stupid, to boot)!
I knew his Money & Banking book was very monetarist in orientation (despite the fact that that school has faded, even among mainstream economists), but his Macroeconomics was much worse. But wait! there's more. I'm using the newest edition of his Money & Banking book this semester. Despite the ongoing crisis (which his book minimizes as the "sub-prime crisis"), he has shifted further to the right (as it were), embracing more and more "free market" stuff. For example, he dropped the useful section on empirical criticism of the ultra-bad "efficient markets hypothesis"! He's likely being corrupted by his success. (does absolute wealth corrupts absolutely? there's no such thing as absolute wealth -- or absolute power.) -- Jim Devine / "Segui il tuo corso, e lascia dir le genti." (Go your own way and let people talk.) -- Karl, paraphrasing Dante. _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
