R. Reeves quotes JFK as telling W. Heller “Forget those numbers. Numbers can come back to haunt you. Words can always be explained away.” I don't agree with JFK.
First, regarding numbers, you can always manipulate them. As Paul Krugman usually does: "Op-Ed columnist Paul Krugman has the disturbing habit of shaping, slicing and selectively citing numbers in a fashion that pleases his acolytes but leaves him open to substantive assaults" (Daniel Okrent, "13 Things I Meant to Write About but Never Did," The New York Times, 22 May 2005).
Second, it is not true that you can always explain words away. Just ask G. W. Bush, and in a few weeks or months BHO. I believe that the problem with words is the one pointed out by T. Sowell "More frightening to me than any policy or politician is the ease with which the public is played for fools with words." A politician can always count on some fools to believe their empty words and the only question is if they are enough to become elected or to support some policy. But I'm sure you know that "You can fool some of the people all of the time, and all of the people some of the time, but you can not fool all of the people all of the time." (attributed to Lincoln). Let us hope that change will not take too long (in FT, M. Wolf argues that BHO is already failing and therefore there is hope of change; read http://www.ft.com/cms/s/0/9ebea1b8-f794-11dd-81f7-000077b07658.html).
E. BarandiaranFebruary 11, 2009 at 6:39 am
MUNDELL'S PROPOSAL
Although it's not related to your post, let me mention RM's proposal made in a speech at the Hong Kong Monetary Authority (I could not find a reference in English). He is proposing that the US government issues $500 billion in DSV (for Dated Spending Vouchers) to be spent in 90 days. Business firms can then use the vouchers to pay their federal taxes. It's a very simple idea, too simple for politicians.
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R. Reeves quotes JFK as telling W. Heller “Forget those numbers. Numbers can come back to haunt you. Words can always be explained away.” I don't agree with JFK.
First, regarding numbers, you can always manipulate them. As Paul Krugman usually does: "Op-Ed columnist Paul Krugman has the disturbing habit of shaping, slicing and selectively citing numbers in a fashion that pleases his acolytes but leaves him open to substantive assaults" (Daniel Okrent, "13 Things I Meant to Write About but Never Did," The New York Times, 22 May 2005).
Second, it is not true that you can always explain words away. Just ask G. W. Bush, and in a few weeks or months BHO. I believe that the problem with words is the one pointed out by T. Sowell "More frightening to me than any policy or politician is the ease with which the public is played for fools with words." A politician can always count on some fools to believe their empty words and the only question is if they are enough to become elected or to support some policy. But I'm sure you know that "You can fool some of the people all of the time, and all of the people some of the time, but you can not fool all of the people all of the time." (attributed to Lincoln). Let us hope that change will not take too long (in FT, M. Wolf argues that BHO is already failing and therefore there is hope of change; read
http://www.ft.com/cms/s/0/9ebea1b8-f794-11dd-81f7-000077b07658.html).
MUNDELL'S PROPOSAL
Although it's not related to your post, let me mention RM's proposal made in a speech at the Hong Kong Monetary Authority (I could not find a reference in English). He is proposing that the US government issues $500 billion in DSV (for Dated Spending Vouchers) to be spent in 90 days. Business firms can then use the vouchers to pay their federal taxes. It's a very simple idea, too simple for politicians.
Try this from Will and Ariel Durant:
It may be true that you can't fool all of the people all of the time, but apparently you can fool enough of them to run a large country.
Why a numbers approach to economics is pseudo-science — Hayek:
http://hayekcenter.org/?p=219
_The Numbers Game_, how numbers can mislead or lie:
http://www.portfolio.com/views/blogs/market-movers/2009/02/10/can-we-trust-statistics?tid=true