Thanks, Julio, for this. Everyone should read the comments which follow, most of them attacking the author. Amazing.
I recently had a look at Mankiw's textbook to see what he had to same about consumers. Terrible stuff, essentially a lie. I also looked at the principles book by Robert H. Frank & Ben Bernake at the same time and it was as bad, or almost so. That, despite the fact that Frank writes books like Luxury Fever and asked in the NY Times about "Whatever happened to James Duesenberry?" Isn't there a way to impeach and incarcerate textbook writers who commit these crimes? Gene Coyle On Jan 9, 2008, at 2:16 AM, Julio Huato wrote:
http://adbusters.org/the_magazine/75/Economic_Indoctrination.html
