Thomas Sowell:When it comes to being the calvary, this is how politicians tend to see themselves (be sure to watch a couple minutes into the clip):You have heard of the cavalry to the rescue. But have you ever heard of economists to the rescue?
While economists are talking supply and demand, politicians are talking compassion, "change" and being on the side of the angels-- and against drilling for our own oil.
Has any economist ever attracted the kinds of cheering crowds that Barack Obama has-- or even the crowds attracted by Hillary Clinton or John McCain?
If you want cheering crowds, don't bother to study economics. It will only hold you back. Tell people what they want to hear-- and they don't want to hear about supply and demand.
No, supply and demand is not too "complex." It is just not very emotionally satisfying.
And this is the kind of calvary economists reveal them to be:
Not as emotionally satisfying, but a heck of a lot closer to reality...
(HT Greg Mankiw)
1 comment:
What a dumb comment from Sowell. He may as well ask why rock stars or movie stars or sports stars get more cheering crowds than economists.
Those who touch the emotions naturally tend to get the more emotional reactions.
And what is so wrong about talking about things like compassion, change, or being on the side of angels? What is so wrong about some appeals to emotions?
Last I looked, people were still emotional creatures, not just economic ones.
Now I do agree that people need to learn more about basic economics, and that some times politics crowds out good rational arguments about economics.
But last I looked there was a candidate who actually went with the more sophisticated, nuanced economically sound argument on an issue of political pandering, and actually won the debate, and that was Obama on the dumb gas tax holiday.
Why doesn't Sowell give Obama credit for doing exactly what he wants...namely, taking the economic high road and giving the people credit for being intelligent.
In fact, not only did Obama take the economically rational argument, but the other 2 candidates actually dismissed the idea of listening to the "experts." If I were Sowell I'd be taking Clinton and McCain to task, and honoring Obama.
But that doesn't fit in with Sowell's predetermined ideology, and so he just marches on.
Post a Comment