If you want proof that mainstream economists are as confused as ever, a recent survey (Pdf), shows that Paul Krugman is considered the favorite economist, in the under 60 category, by the majority of economics professors surveyed.
The results show almost a popularity contest versus any relation to advances in economic thought. After Krugman, survey respondentss chose best-selling economics textbook author Greg Mankiw. Ranked at number four is, Freakonomics author, Steven Levitt. For the sloppy analytics in Freakonomics, see here. For Levitt dishonesty and evilness, see here.
Others on the list include Ben Bernanke and Tyler Cowen.
The breakdown of responses to political affiliations of the econ professors came out this way:
56.4% Democrat
20.7% Republican
5.4% Libertarian
1.0% Don't vote
Please let these dummies have to flip burgers for a living if the college debt market collapses (I suddenly find myself feeling glass-half-full, for once).
ReplyDeleteWTF, Marx comes in at #5 for favorite of pre-twentieth century economists. Adam Smith and Ricardo come in at #1 and #2, but seriously?
ReplyDeleteYikes! We've got a long way to go.
ReplyDeleteThis is why economists are not highly regarded by the general public.
ReplyDeleteNo surprise with these state-sponsored university professors that Murray Rothbard is not in the top 24 of favorite 20th century economists.
ReplyDeleteUnder 60, huh...?
ReplyDeleteWe're talkin' IQ, right?
jaydub
Looking at the living lists, I would rename them to "Pick your favorite central planner over/under". LOL
ReplyDeleteNo wonder the world is as messed up as it is. They all like the idiot Krugman. Scary!
ReplyDeleteUnder 60, huh...?
ReplyDeleteWe're talkin' IQ, right?
jaydub
That's what I assumed.
Sometimes words just fail you. You want to say something funny or clever. But this is just sad...
ReplyDeleteThese poor fools have never done anything of value - never run a business, made a payroll, built something. They sit in their ivory towers telling each other how brilliant they are while the system they espouse goes down in flames, a complete and dismal failure.
God help us all.
Anonymous says: "They sit in their ivory towers telling each other how brilliant they are while the system they espouse goes down in flames, a complete and dismal failure."
ReplyDeleteYes, that is exactly the important point. We are in the midst of what is arguably the first or second greatest economic crisis of the last few centuries, and the very people who were most responsible for the economic policies that led to this crisis are being lauded. Is there no end to the foolishness of academia? Have these people people become immune to learning from experience?
Could you even call Krugman an economist any more? When was the last time he published a paper? (other than sticking his name on something his grad students wrote)
ReplyDeleteMy impression of Dr. K. is of a rabid partisan political hack cashing in on the alleged fame and prestige associated with long, long ago research. None of which research was relevant to the subjects on which he is wont to pontificate. Krugman is the David Suzuki of the economic and financial worlds.