Tuesday, October 05, 2004

Tax cut

I am no big fan of coalition. But I applaud people who express their standpoint explicitly, reasonably, and with clear argument. These Nobel economists are the examples more of the latter than the former. Akerlof, Arrow, Kahneman, Klein, McFadden, North, Samuelson, Sharpe, Solow, and Stiglitz say it all: Bush's tax cuts plan is a flaw. So vote for Kerry.

A week ago or so, we were watching the first episode of Commanding Heights, The Battle of Ideas at office. I have an impression that it does not do enough justice to Keynes. CH series are about market superiority against government "intervention". And Hayek is the man. Keynes is the loser. Market means Hayek, vice versa. Intervention means Keynes, vice versa. This is a total misunderstanding. Unfortunately, some economists think it is not. It's like saying that: tax cut is always good. Ah, Friedmanite.

Aside: Should really have another in "I live this office" series. Three days in a row for dead internet. Ah, Jurassic Park.

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