Tag: dismal science
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Note to Progressives: How Not to Critique Adam Smith
Gavin Kennedy at Adam Smith's Lost Legacy has another excellent post on misconceptions about Adam Smith: Five Errors About Adam Smith and Classical Political Economy. He quotes an article in the Grand Island Independent by Lee Elliott and then shows five errors the author makes based on widely circulated myths. I don't know the author's…
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In defence of the dismal science
The Economist: In defence of the dismal science In a guest article, Robert Lucas, the John Dewey Distinguished Service Professor of Economics at the University of Chicago, rebuts criticisms that the financial crisis represents a failure of economics. THERE is widespread disappointment with economists now because we did not forecast or prevent the financial crisis…