Well, I've got a hammer: an economist's anthem
and I've got a bell
and I've got a song to sing
all over this world
It's the hammer of tradeoffs,
it's the bell of equilibrium,
it's a song about trade between
my brothers and my sisters
all over this world
Apologies to Pete Seeger. Don't roll in your grave. Our interests are aligned.
and I've got a bell
and I've got a song to sing
all over this world
It's the hammer of tradeoffs,
it's the bell of equilibrium,
it's a song about trade between
my brothers and my sisters
all over this world
Apologies to Pete Seeger. Don't roll in your grave. Our interests are aligned.
posted by John B. Chilton at 3/10/2005 05:26:00 PM
1 Comments:
Bad, on two grounds. One, crappy verse, though the idea is cute. :-) Two, that equilibrium thing. At worst, it has led economics down a pathway that is increasingly sterile. At best, it's a Holy Grail, never seen. All we have is a constant search. See Hayek. Also: Schumpeter & creative destruction.
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