"The problem with socialism is you eventually run out of other people's money" - Margaret Thatcher
"The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design" - F.A. Hayek
Wednesday, April 11, 2012
You really need to read this. Thanks to the ever thoughtful Dr. Rothman for alerting me.
Very interesting. I do not think that they can show causality but the descriptive evidence and the model are very compelling.
It would be interesting to see if similar thing happened during Industrial Revolution when there was a total reorganization of the economy from farming to manufacturing. Maybe we now experience change from manufacturing to service.
Very interesting. I do not think that they can show causality but the descriptive evidence and the model are very compelling.
ReplyDeleteIt would be interesting to see if similar thing happened during Industrial Revolution when there was a total reorganization of the economy from farming to manufacturing. Maybe we now experience change from manufacturing to service.
Thanks for posting.