Lose the 'We'

by Don Boudreaux on January 28, 2009

in Balance of Payments, Current Affairs, Myths and Fallacies, Trade

Beware double-counting.

Comments

{ 4 comments }

vidyohs January 28, 2009 at 12:54 pm

Not too many things in this world more agenda driven than the compilation and publication of statistics.

Thanks for pointing it out.

"Lies, damned lies, and statistics." Benjamin Disraeli

Adam January 28, 2009 at 1:10 pm

This is off-topic, but why didn't either of the Cafe's owners sign the Cato ad in the Times today opposing the stimulus bill?

BoscoH January 28, 2009 at 1:51 pm

"Things are bad. Let me (double) count the ways." Economists seem to be the first in line to imbibe in the animal spirits.

Superheater January 28, 2009 at 3:41 pm

Don, keep at it. Samuelson, Krugman et al
seem to think that their Nobel fueled egos make them infallible and unassailable, even when they purposefully pimp their craft to politics.

Of course we all know there's a contradiction, since the first rule of economics is everything is scarce and the first rule of politics is ignore the first rule of economics.

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