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News Link • Economy - Economics USA

Mainstream Economists: Ron Paul is "dangerous"

• Lew Rockwell

To get a sense of just how intellectually and morally bankrupt mainstream academic economics has become, this article tells all, however unknowingly, since the author believes the quoted economists are correct:

Another professor who teaches at the University of North Carolina at Chapel Hill, Michael Salemi, was able to identify statements from six candidates that "would earn failing grades in my Econ 101 class."

Salemi called Ron Paul's rationale for returning to the gold standard "one of the most dangerous ideas put forward by a politician in recent years."

 

2 Comments in Response to

Comment by Olde Reb
Entered on:

 

Well, think about it. The largest employer of economists is the Fed. If Business School taught Economics and blamed the Fed for bad practices, their graduates would not find employment at the Fed, and Federal grants would be denied to the school. Strictly economics.

Even Lew’s Mises institute declines to discuss the $8.4 trillion the FRBNY received from the 2010 auctions of Treasury securities included trillions in profit for the Fed that was hidden from Congress. It is a crime to hide money from the government. Ref. RIP OFF BY THE FED, http://www.scribd.com/doc/49040689

Comment by Ed Price
Entered on:

This is so rich! We have an American economy with a tremendously high unemployment rate, people losing their homes right and left, companies going under right and left, the nation in the biggest debt ever, and all the mainstream academic economists can say is that the economic practices that got us into this pickle are the way that it should be.

Ernie says that if you can't have fun being an activist, you are doing it wrong. True, the situation is grave. But I can't help laughing my head off at the comical irony presented by these mainstream academic economists. Just reading this stuff is more humorous than a whole hat-full of jokes.


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