Sunday, April 3, 2011

“Expectations” a major variable in economics is merely a myth?

On Sunday 04/03/2011 edition of the “This Week” program crazy old uncle Paul Krugman, Noble prize wiener-whiner at larger, decided to rewrite economic theory in 20 seconds or less. You see, one of the major variables in economics, which is expectations, is merely a myth.

Which then begs the question: is expectations a myth or is the more likely case that crazy old uncle Paul is the myth?

It becomes a mighty sad case when a Noble prize winner in economics constantly, clearly, and repetitiously shows why he should have never won the prize in the first place.

1 comment:

  1. Do not forget Krugman advocates policies, such as health care and more regulation, which cause this uncertain. But, if he admitted the uncertainty played any part, he would have to either take some blame or modify his advocacy. But Krugman and taking blame, as well as Krugman and admitting error, are oxymorons.