Friday, September 26, 2008

Academics Versu Bureaucrats

Technically, Mr. Paulson and Mr. Bernanke are bureaucrats. Their concept is getting battered by academic economists. Greg Mankiw has been on both sides, now back at Harvard. His opinion, go with the bureaucrat if they're comfortable.

That's my opinion too, based on no economics knowledge but my history in the bureaucracy. Of course, that's also why I backed the Iraq war initially. Sometimes bureaucrats are right, sometimes they have tunnel vision. You pays your money and you takes your chances.

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