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To: MeDroogies who wrote (2830)	4/5/2001 1:05:55 PM
From: tradermike_1999	Read Replies (1) \| Respond to of 74559

even Adam Smith recognized speculation and bubbles - he called it "overtrading."

To: MeDroogies who wrote (2830)	4/5/2001 10:11:10 PM
From: tradermike_1999	Read Replies (2) \| Respond to of 74559

BTW, I don't see that his viewpoint is any more or less politically tainted than anyone else's. It's hard to look at other economists such as Galbraith, or even Blinder (who was on the Fed), or anyone else...and not see them spouting economics that basically support their political viewpoints. The difference between Galbraith and Kudlow is that Kudlow is on CNBC regularly and treated like an economist when he isn't. The general viewer who unfamiliar with him is likely to listen to him and believe him when in reality he is not really an economist and has a dismal track record and spouts crackpot notions from time to time. The usefulness in an economist is not whether or not they support tax cuts but how good their track record is in forecasting the economy. In that respect Galbraith has a better track record and so do I. That means that I am a better economist than Lawrence Kudlow is. Of course I don't go around calling myself one because I don't have a degree in it and am not paid to be one. But that just shows you how ludicrius he is. He makes a joke out of the profession. He is the perfect house economist for CNBC. Someone with all flash, but no substance. Perfect to sit besides Mark Haines and Maria B.

To: MeDroogies who wrote (2830)	4/8/2001 4:08:48 PM
From: Mike M2	Read Replies (1) \| Respond to of 74559

McD, Friedman is the father of the monetarist school - quite different from the austrian school - Mises, Hayek

To: MeDroogies who wrote (2830)	4/23/2001 10:58:18 PM
From: Ilaine	Read Replies (1) \| Respond to of 74559

Economists, like everyone else, have to eat. And the natural patrons of economists are people who need to foresee the future - politicians and businessmen. It's only natural that economists would tell their patrons what they want to hear. He who pays the piper, calls the tune. Now you or I might say that it doesn't seem sensible to pay a prognosticator to tell us what we want to hear, because that doesn't necessarily reflect the future. However, in a planned economy, the policy decisions made as a result of the economist's call have a way of reifying themselves.