Re: The GOP and tax cuts
- From: David Friedman <ddfr@xxxxxxxxxxxxxxxxxxxxxxxxx>
- Date: Sun, 08 Feb 2009 14:43:47 -0800
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
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.
_Future Imperfect: Technology and Freedom in an Uncertain World_,
Cambridge University Press.
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