On Mon, Aug 3, 2009 at 12:05 PM, Ryan Simpkins <[email protected]>wrote:
> The questions go on, and on, and on. Indeed. Writing in the Freakonomics blog on the nytimes.com web site, economist Steven Leavitt makes a similar back-of-the-napkin calculation. One billion dollars, presumed to have been exhausted in one week since the program began, spent, on average, at $4000 per clunker, amounts to 250,000 new cars sold. In one week. That figure is *double* the average number of cars sold per week back in 2006, long before car sales went into the gutter. So we're supposed to believe that the C-f-C program single-handedly produced car sales more than double the average weekly sales figures during a healthy auto-sales economy? Something doesn't sound right, Mr. Leavitt observes. Bastiat surely is laughing at us from the great beyond. /* PLUG: http://plug.org, #utah on irc.freenode.net Unsubscribe: http://plug.org/mailman/options/plug Don't fear the penguin. */
