Wednesday, July 16, 2008
Economists get catty.
Love it when they hiss and their claws come out.
Arnold Kling on Brad DeLong on the FMs....
Over at Grasping Demagoguery with Both Hands, Brad DeLong writes...
[evil Republican deregulation did it]
Let me give Professor DeLong an assignment. Find a list of all of the prominent calls for regulation of Freddie Mac and Fannie Mae over the last 15 years. Then write the name of the political party or the publication who called for that regulation on the blackboard. Do it 100 times. It will help your penmanship. It might even help your grasp on reality.
Jagdish Bhagwati on "What Makes Capitalism Work"...
Bill Gates has done something remarkable, which most everyone admires.Oh, that's what makes capitalism work. (I'm trying to picture Jagdish Bhagwati as Maureen Dowd.)
By contrast, George Soros made money from "speculation," which most people hold in low esteem ... On campuses in the U.S. we are all under instructions not to criticize him for the rubbish that he peddles, for fear that we may lose a contribution; but Gates would draw admiring crowds ...
The contrast between Gates and Soros is dramatic in this regard. The contrast between Obama (whom I have supported from the beginning) and the Clintons in this regard is also dramatic and is in Obama's favor. If I were Maureen Dowd, and I thank God I am not, I would say that Bill Clinton's problem is that he has gone from White Trash to White Cash...
