The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: Tradelite who wrote (17193)	2/12/2004 12:55:41 PM
From: gpowell	Read Replies (1) of 306849

Essentially, he is arguing the lower resource use efficiency produces more wealth. Pearlstein is an idiot, who obviously does not understand comparative advantage. Further, his ignorance allows him to reach different conclusions than economists and he has the arrogance to assume economists have missed something. You do not often see arrogance combined with ignorance outside of the technical field. I do give him credit though for putting his stupidity in print. There are situations where trade will produce lower welfare, in aggregate, but he did not present any of those.

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