The DeLong Hall of Honor

13 January 2009 at 12:05 pm 4 comments

| Peter Klein |

Brad DeLong continues to be one of the stupidest smart people around. When the House failed to pass the $700 billion bailout the first time back in September, and the stock market fell by $1.3 trillion, Brad estimated the true cost of the bailout at $100 billion (ha!), added $2 trillion in lost wages from its failure to pass, and accused House Republicans of having a required benefit-cost ratio of 30-to-1. Of course, the bailout bill passed a week later, and the stock market fell by another $1.2 trillion. Oops! In general, there’s no economic policy issue that Brad can’t spin into a childlike morality play pitting noble, enlightened Democrats against vile, stupid Republicans.

His latest post in this vein, characterizes all economists who publicly oppose Obama’s proposed stimulus plan “ethics-free Republican hacks.” Most of the individuals quoted aren’t actually Republicans, but never mind. You Go, Girl! When I saw that my colleague Mike Sykuta made the list, I was jealous, and upset that I hadn’t written anything specifically opposing the stimulus. So, Brad, I want you to know that I reject the stimulus plan, and the sophomoric Keynesian reasoning behind it, lock, stock, and barrel. Will you please include me in your next Hall of Shame? (BTW I am not now, and have never been, a Republican.)

Update: See also Boudreaux and Horwitz and their commentators.

Entry filed under: - Klein -, Bailout / Financial Crisis, People.

Students: Consider Renting, not Buying, Your Books New Foss Thought Piece

4 Comments Add your own

  • 1. simone  |  13 January 2009 at 9:38 pm

    DeLong’s statements reflect the fact that he is intolerant of those who disagree with him. A sad situation for a professor.

  • 2. david  |  13 January 2009 at 11:16 pm

    I thought the $1.2 trillion thing was amusing, as it was so transparently silly. I doubt he believes such claptrap

  • 3. art pepper  |  14 January 2009 at 12:32 pm

    Perhaps. But the problem is that, judging by his comments (or at least those that he does not delete) most of his readers do believe such claptrap.

  • […] from his guest blogging stints at Organization and Markets.  Or perhaps making Brad DeLong’s Hall of Honor.  Mike joins J.W. Verret as the second addition to blog in the last week, and we hope to announce […]

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

Trackback this post  |  Subscribe to the comments via RSS Feed


Authors

Nicolai J. Foss | home | posts
Peter G. Klein | home | posts
Richard Langlois | home | posts
Lasse B. Lien | home | posts

Guests

Former Guests | posts

Networking

Recent Posts

Recent Comments

Categories

Feeds

Our Recent Books

Nicolai J. Foss and Peter G. Klein, Organizing Entrepreneurial Judgment: A New Approach to the Firm (Cambridge University Press, 2012).
Peter G. Klein and Micheal E. Sykuta, eds., The Elgar Companion to Transaction Cost Economics (Edward Elgar, 2010).
Peter G. Klein, The Capitalist and the Entrepreneur: Essays on Organizations and Markets (Mises Institute, 2010).
Richard N. Langlois, The Dynamics of Industrial Capitalism: Schumpeter, Chandler, and the New Economy (Routledge, 2007).
Nicolai J. Foss, Strategy, Economic Organization, and the Knowledge Economy: The Coordination of Firms and Resources (Oxford University Press, 2005).
Raghu Garud, Arun Kumaraswamy, and Richard N. Langlois, eds., Managing in the Modular Age: Architectures, Networks and Organizations (Blackwell, 2003).
Nicolai J. Foss and Peter G. Klein, eds., Entrepreneurship and the Firm: Austrian Perspectives on Economic Organization (Elgar, 2002).
Nicolai J. Foss and Volker Mahnke, eds., Competence, Governance, and Entrepreneurship: Advances in Economic Strategy Research (Oxford, 2000).
Nicolai J. Foss and Paul L. Robertson, eds., Resources, Technology, and Strategy: Explorations in the Resource-based Perspective (Routledge, 2000).

%d bloggers like this: