Fwd: The New York Times is Right About Economists, for the Wrong Reasons


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                                       August 26, 2019        

Economics today is mostly a jobs program for economists.

Governments love to point to stuff they built with your tax dollars. But they never point to all the destroyed wealth and lost opportunities that result from those same programs and policies.

Whiskey production depends on investment in highly specific capital, and it requires a long time horizon. It's a textbook case of the sort of industry that's likely to suffer most in case of an economic bust.

What is needed to make peace durable is a change in ideologies. What generates war is the economic philosophy almost universally espoused today by governments and political parties.


    

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