Who's the Real Economist?

Who's the Real Economist?

E-mail debates of newsworthy topics.
Nov. 18 1996 3:30 AM

Who's the Real Economist?

VIEW ALL ENTRIES

       Enough already! I bet nobody who reads this debate cares about Adrian Wood. Let's just say that other trade economists took his analysis very seriously, but that on close reading, it appears to be a case of bait-and-switch: What looks like a rigorous, number-heavy analysis turns out to be mainly driven by unsupported assumptions.
       But anyway, this (really, truly) last message is not for Galbraith, but for readers--if any remain. It is this: Save my list of fallacious doctrines, and check it when you read or hear solemn, seemingly knowledgeable commentary about the global economy. I guarantee that you will encounter over and over again exactly these propositions, stated authoritatively by writers or speakers who believe themselves to have a deep understanding of the issue. And that is an empirically testable proposition.

James K. Galbraith, a professor of government at the University of Texas, takes issue with Paul Krugman's recent SLATEcolumn, "Economic Culture Wars." Krugman is a professor of economics at MIT.