ARNOLD KLING
August 14, 2011
The Top Political Contributors
August 11, 2011
Gender and the New Commanding Heights
August 11, 2011
Jamie Galbraith Makes an Assumption
August 11, 2011
Macroeconometrics: The Science of Hubris
August 10, 2011
Real and Nominal Bond Yields
BRYAN CAPLAN
August 14, 2011
The Effect of Thumb Sucking on Income
August 12, 2011
The Voice of Cold, Hard Truth to All Would-Be Educators
August 12, 2011
Ability, Morality, and Prosperity: A Paper and a Report
August 11, 2011
The Theory of Time and Frittering
August 10, 2011
Male Variance and the Remnants of the Gender Gap
DAVID HENDERSON
August 9, 2011
Hayek in "Unbroken", Part Two
August 8, 2011
Hayek in "Unbroken"
August 5, 2011
James Bovard on the Peace Corps
August 4, 2011
Summers Way Off on FDR and 1941
August 3, 2011
The "Amazon" Tax


the stereotype he presents are libertarians...quite different than the RNC, George Bush, etc.
Yet one gets the impression that the general public, or more specifically the portion of the left with a general knowledge of politics, feels that most economists have views barely distinguishable from yours. Why is that?
I suspect that among economists libertarians form a disproportionate share of public intellectuals or popularizers. Also, they're the most right-wing (or least left-wing) of the social sciences, so they're pretty much the only ones the right can draw from, resulting in the field as a whole appearing right-wing especially to other academics.
Economies are inherently unstable. The aggregate economy seeks efficiency at the expense of individual efficiency, the two are always in contradiction.
Historically, and anciently, government evolved as various groups tried to use government to resolve the instability conundrum. This history of using government to participate in the economy is built in, cannot be undone.
Historical economists, I suspect, are all too aware of this problem. Each layer of government, in part, is designed to hedge against some other previous layer of government.
What we need are economists who understand cumbersome markets, not free markets. Milton gave up, so, Arnold, if you cannot solve the conundrum, you are in good company.
Matt, would you care to give a citation for your remarks on instability/efficiency or for Milton Friedman "giving up"?