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To: pstuartb who wrote (263887)	7/25/2010 5:40:01 PM
From: koan	Read Replies (2) \| Respond to of 306849

>>The Austrians almost never get the top government jobs because they think government tinkering distorts markets, which invariably self-correct at some point. The more government tinkering, the harder the inevitable correction.>> What you are presenting me with there is a simple dogma i.e." I know the correct theory and everyone else is wrong." I don't trust anyones dogma. And I think 20 years from now most of modern economics will have been replaced with newer and more sophisticaed models. The top economists are not pure Keynsians. They all know the stagflation of the late 70's was not supposed to happen. So there is one error in the theory. Still, it seems a better theory that most. It worked well for FDR. And you cannot let people starve for a friggen theory! The top economists are saying we need to study the situation and employ the best aspects of economics we think works and keep learning. And they do know a lot. More than most people know. And we have to do whatever we can to make sure our society is fed and clothed and has sheltor along the way.