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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: Ilaine who wrote (3194)	4/24/2001 8:39:17 AM
From: MeDroogies	Read Replies (1) \| Respond to of 74559

Very true. The best economists, few of them though they are, are the ones who aren't trying to push a political viewpoint and try to stick to the facts. Actually, what I should say are the best econometricians. These guys, however, are not ever in the papers or on TV. They slave away in low level positions (for the most part) at larger firms and produce models for companies to base their future growth upon. We view the larger names (Keynes, Galbraith) with the awe that we do because they explained things that hadn't previously been explained well at all. Keynes also happened to be a hell of a speculator, so his "vision thing" wasn't lacking at that period in history. However, these men still had the patrons to which you refer. However, the best of these were the people who had no problem telling their patrons things they DIDN'T want to hear. An economist can load up on the brown nose by telling his patrons what they are looking for, but a good one plays Cassandra whenever it makes the most sense. The question is whether he remains a cassandra or people accept his views.