When they fell into my trap,* by engaging, I asked how their discipline and more particularly they personally had raised the warning for their school's endowments during 2008-09.
The silence was deafening.
Just because economists use the tools of science (mathematics) that doesn't make them scientists.
From another of the blogs we read but don't link to often enough, Aquanomics:
You tell me:*When I think I've set a trap I have to consciously remind myself of General Custer's comment as he rode into the valley of the Little Big Horn, variously reported. Here's Time's version:
Insanity (n.): "Doing the same thing over and over again and expecting different results" -- Albert Einstein
In related news, read this useful cartoon of the President's (non) role in the economy.
"Hurrah, boys,we've got them!, We'll finish them up and then go home."
Another version has him saying "We've got them where we want them."
