Bryan Caplan  

The Experts Strike Back

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I'm Going to See Singapore for... More Experts...

Just when I was starting to feel disillusioned in my profession, the Stiglitz/DeLong/Edlin edited Economists' Voice lashes out against the Paulson bail-out. Just let me add: If we've learned anything from the Iraq War, it's that it's a good idea to calmly review the facts before taking drastic action.


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COMMENTS (5 to date)
E. Barandiaran writes:

You're wrong about what expertise means. When was the last time that any of the experts you refer to was responsible for solving a financial crisis? Tom Sowell used to distinguish between those that can write about milking a cow and those than can bring milk to the table.

Randy writes:

Traveling today, and re-reading Atlas Shrugged on the plane - and then watching excerpts from the bailout hearings on the news. OMG! Its like watching the book come to life!

stylized.fact writes:

I believe E. Barandiaran is right. This crisis seems to have sprouted a very youthful uproar. Bank of America is no longer lending money to McDonalds franchises.

K writes:

I think if we've learned anything from the Iraq War...it's take a look at things for yourself instead of believing everyone. The problem you run into there with Bush, McCain and Obama is that they are probably not able to figure out a good fix for this plan on their own...so we are left with the issue of having to rely on people that no one is sure we can trust.

Point being, even after the facts are "calmly" reviewed, what good would it do? The outcome of this crisis is going to be pretty bad...it's inevitable.

Speedmaster writes:

That certainly seems like sound advice.

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