Re: The GOP and tax cuts

In article <gmnev0$27j$1@xxxxxxxxxxxxxxxx>,
"Keith F. Lynch" <kfl@xxxxxxxxxxxxxx> wrote:

David Friedman <ddfr@xxxxxxxxxxxxxxxxxxxxxxxxx> wrote:
Speaking as an economist, I don't think it is true either that most
economists agree with the position in the Cato ad, which I assume
David H. is referring to, or that most agree with the "stimulus"
plan. If I had to guess, it would be that the latter is more nearly
true--although the agreement is not on the scale that Obama claims.

I saw the Cato ad in the Washington Post. I was surprised not to see
your name among the many signatories.

At it happens, I wasn't asked--I don't know why. If I had been I would
probably have refused. Not because I disagree but because I generally
avoid signing statements that get their impact from the number of people
who sign them. I prefer to speak with my own voice, and to be believed
(or not) on the basis of what I say, or perhaps people's past experience
of me.

To me, the most noteworthy thing is the lack of consensus either way.
Compare that to, say, astronomy. Or mathematics. Or even history.

There is a good deal of consensus on the part of economics that is well
understood, which is basically the theory of equilibrium--roughly
speaking price theory. There is a good deal of disagreement on the
theory of disequilibrium, which is what macro is largely about. That's
been true for a long time.

--
http://www.daviddfriedman.com/ http://daviddfriedman.blogspot.com/
Author of
_Future Imperfect: Technology and Freedom in an Uncertain World_,
Cambridge University Press.
.

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