My Christmas Tribute to the Most Bizarre Attempts at Economics in 2005
I am happy to report that the National Review is not shying away from saying Merry Christmas as they tout what they call the “Best of NRO Financial 2005”. Of course, we have had some real fun with a few of their silly op-eds such as John Tamny lecturing Paul Volcker about trade deficits. Then there are those free lunch supply-side types who don’t understand what Keynes had to say.
But picking on these amateur economists is not in the holiday spirit. Besides, their resident economist topped all of the rest for confusing the Chinese economy with the U.S. economy as he was trying to explain high oil prices. But Dr. Canto at least did not confuse economics with religion.
Given that I have quite a number of old principles of economics text written by Paul Samuelson collecting dust in my office, maybe this should be my Christmas gift to the NRO Financial staff.
Merry Christmas and Happy Holidays!