Tuesday, December 10, 2013

Sycophants and Henchmen

Classifying economists is becoming quite a challenge these days. Austrians, classicals, neo classicals, keynesians, new keynesians, monetarists, post keynesians, market monetarists and now new monetarists.  I have two classifications. Sycophant or Henchmen

When I read an oped by an economist these days they usually are trying to make the non economist believe one of two things.
One;  they want you to believe that the people who are on top of the world calling the shots and determining much of your economic fate, are hardworking smart guys who know what is best and have studied these things like finance and the economics and if you just don't tax them too much or make them follow too many rules, they'll make the world you inhabit with them a more livable place and you'll be happier. These are the sycophants

Two; they want you to believe that "There is no alternative"  this is how its going to be while they are in charge so get used to it. These are the henchmen.

Either  belief you come away with is fine with the guys running the economy.

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