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View Diary: Rand Paul thinks Milton Friedman still alive, wants him as Fed chair (43 comments)

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  •  How about we consider someone who isn't (0+ / 0-)

    an economist?

    If there is an academic discipline more thoroughly discredited by the intersection of every theory it has ever come up with and reality, I can't think of it.

    Maybe phlogiston chemistry, or Lamarckian evolution... but I doubt it... at least those guys were trying to incorporate data from the real world in their theorizing. Economists go about it the other way.

    And yes, I include Keynes in this.

    There has never been an economist who was more accurate than a coin toss.

    Not one.


    And most of them have been less.

    As the Oxford don was reputed to have said in reference to theology, (to which economics has an unsettling resemblance,)... "I'm not convinced it's even a subject."


    "It is better to die on your feet than to live on your knees." -- Emiliano Zapata Salazar
    "Dissent is patriotic. Blind obedience is treason." --me

    by Leftie Gunner on Sat Aug 10, 2013 at 07:30:55 PM PDT

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