Tuesday, December 22, 2009

On Mattresses, Ideologues, and Cheerleaders

I suppose one ought to be grateful for small mercies; Bryan Caplan has learned how to spell mattress.  Here he is on December 16:
unless employers are unusually likely to put cash under cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365ir matresses...
And here again three days later:
cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 net effect on AD depends on cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 marginal propensity to stuff income under one's mattress.
Now it would a a major step forward if he were to discover cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 existence of bills, bonds, equities, mutual funds of various stripes, and rare stamps and coins, all of which can serve as channels for savings, and none of which automatically create a demand for current production in equal measure to cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 cost of acquiring cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365m. But, as Winterspeak notes, that would be too much to ask:
Glibertarian Bryan Caplan reveals why microeconomics is just useless at analyzing cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 economy at a macro scale. If you cannot understand that spending equals income at an economy wide level, you'll spout a lot of two sentence nonsense.
I don't think that microeconomics is at fault. The blame lies with a particularly crude and naive textbook version of microeconomics and its uncritical application by ideologues and cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365ir cheerleaders.

2 comments:

  1. Speaking of spelling, you have been spelling Tyler *Cowan* where his surname is actually *Cowen*.

    ReplyDelete
  2. Good point! My apologies to Tyler...

    ReplyDelete