In response to:

New Study from U.K. Think Tank Shows How Big Government Undermines Prosperity

don2496 Wrote: May 26, 2012 12:37 AM
The problem, as Thomas Sowell has stated repeatedly, is that politicians main concerns are re-election and not what is good for the economy as a whole. The average American unfortunately is economically illiterate and falls for political panderers every time.
johnm h Wrote: May 26, 2012 7:21 AM
It would seem most economists are economically illiterate as well. In spite of evidence piling up, common sense, and the ubiquitous fallacies in the Keynesian models huge numbers of academic economists remain either Keynesians or their related cousins, monetarists. Perhaps it is because Austrian economists eschew mathematical economics so don't have the panache nor are likely to get hired to build models or win Nobel prizes.
Paperpushermj Wrote: May 27, 2012 1:34 AM
Don't you know in order to become an Economist you need to be Born With 20/20 Hindsight
Tacitus X Wrote: May 26, 2012 6:58 AM
Even if this hypothetical politician had the U.S.'s best interests at heart his economic decisions would be disastrous since any one person's knowledge is infinitesimal compared to the market.