More Away Games on Home Turf
Said it before, I'll say it again...this is sad.
posted by Donny Baseball at 10:43 AM
Friday, June 08, 2007
About Me
- Name: Donny Baseball
- Location: State of Mind, New York, United States
Previous Posts
- Funny That
- Jim Chanos on FT.com
- Citigroup: "On Average, Things Are Normal"
- Josef Stalin for Sugeon General!
- NBfPB's Healthcare Clearinghouse
- Too Much To Hope For Given Our Silly Politics
- Big News For Clean Diesel?
- Rubinonmics-Style Pessimism Getting Lamer and Lamer
- Ontarians Life, Liberty and Property Are Safe
- Must Read Op-Ed on Healthcare Economics
2 Comments:
NYTimes on Summers
I was reading about Vernon Smith, and it occoured to me that the fatal flaw of economists like Summers is their inability to face the reality that although certain things in life (e.g., demand and supply) work very well on their own, we are not smart enough to understand exactly how they works. And thus they argue for government intervention, or central planning, based on their own pet theory of how things "should" work. I see it as a psychological problem, or a character flaw. Amity Shlaes has the perfect phrase for these people: control freaks.
TS-
Yes, I agree. But principally they fail to see that their government intervention is carried out by the same species, humans, with the same biases and failings that actors in the private market have, only that those in government has worse incentives. I am reading a book now that sheds alot of light on how we delude ourselves into thinking we can have a good degree of control over events - The Black Swan by Nassem Taleb. I recommend it.
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