It saddens me when I see a member of my profession go over to "the dark side," that is, to politics. Politics replaces voluntary action with compulsion, private contract with coercion. Government intervention imposes distortions, inefficiencies, and extra costs on society. In essence, politics is "anti-economics," a nullification of economics, so for an economist to argue for more government control over private economic decisions and transactions, is anomalous, pathetic, and an abandonment of economic truth. We see frequent examples of economists mutilating economic principles during an election year. The latest example is an article, "The Great Debate," by Alan Blinder,...
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Economic Nonsense (How Obama's Economic Adviser is Misleading Us About the Economy)
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