Will the professor take note?

A real professor writes:

No economic theory that I know of suggests you can safely ignore the public finances outside of a recession.

But hasn’t the professor of practice been building just such a theory?

17 thoughts on “Will the professor take note?”

  1. ‘As a result, I have regrettably decided to revoke Article 50, and remain in the EU’

    Sorry mate but Article 50 is irrevocable.

  2. referendum that was called only to appease the hard right, decided by lies using a rigged electorate

    FFS – they’ll never accept that the majority want brevity, will they.

    How the feck was the electorate “rigged”. I notice he offers no support for this paragraph. I guess it must be so obvious it does need any.

  3. Raffles,

    ‘rigged’

    1. In the comments he notes that neither EU citizens resident in the UK nor UK citizens resident in EU countries for 15+ years were allowed to vote.

    2. Children (16 to 18) weren’t allowed to vote but old farts who will die within the next 20 years were.

  4. So the franchise was exactly the same as at every other national level election?

    So are all elections “rigged” then?

    FFS.

  5. On the other hand, I found it interesting that a soi-disant serious economist – he doesn’t rate highly on any list I have found – is now claiming that there is a macro problem that increased government spending cannot solve. This from the guy who has been trumpeting for investment in infrastructure despite all the signs of lack of capacity in the construction industry. Maybe reality is starting to intrude on the hamster hutch he inhabits.

  6. What is an a man who can write “less schools, less hospitals” doing as a fellow of Merton College?

    (Clue: Will Hutton is Master of Hertford)

  7. There may be many who suspect that, however good microeconomics is, macroeconomics is bunk. It does seem to involve doubtful quantities, badly measured, and related only tautologically. Or am I being insufficiently harsh?

    How many macroeconomists can dance on the head of a pin, how many pass through the eye of a needle?

  8. We’ve got less schools in my home town, they’ve removed the temporary mobile classrooms. That’s clearly what he means.

  9. Bit harsh, dearieme, bit harsh.

    But it does suspiciously look as though it might be reasonably true.

  10. I’m sorry to say I read a piece by the Master elect of Caius. She trotted out hackneyed twaddle in a sub-American dialect.

    Maybe most clever academics at Oxbridge just don’t want to be College Masters. Maybe that’s because of the death of the Final Salary section of USS?

  11. The truly interesting thing about SWL is that, despite lots of commentators telling him that the EU is a political institution, he still doesn’t seem to realise that the Brexit referendum was not entirely about economics. He still thinks that economic arguments are the only arguments. Truly thicker than thick. No wonder he is a socialist.

  12. USS final salary hasn’t quite died yet, dearieme. Although I’m not holding out much hope that it will still be there when my turn comes.

  13. !) Most Masters of Oxbridge colleges are now appointed for their supposed fundraising, rather than academic, abilities. (This doesn’t necessarily mean that they are good at fundraising, as the academics doing the appointing don’t always know what they’re doing.)

    2) Although SW-L approaches issues from a left-liberal perspective that will find few friends here, and is often fighting the last war-but-two, he is a serious economist. He is a world away from Murphy.

  14. Cadet, you are being too kind. The writings of SWL, especially on infrastructure investment suggest that he has not stepped into the real world for about 15 years. He is totally out of touch. He probably has someone to type his Web posts.

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