Notes from the Land of the Idiot Savants

Richard Serlin illustrates the typically pencil thin economic understanding of today’s standard issue professor of economics with an example:

I remember talking to a nationally respected econometrician on a very basic IO issue, Microsoft’s anti-trust case, and him showing not even elementary understanding.

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[The] destruction of values by scientific error .. has increasingly come to seem to me the great tragedy of our time. — F. A. Hayek

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