JS-Kit/Echo comments for article at http://smallestminority.blogspot.com/2008/01/quote-of-day-for-tomorrow.html (4 comments)

  Tentative mapping of comments to original article, corrections solicited.

jsid-1201279771-586951  Markadelphia at Fri, 25 Jan 2008 16:49:31 +0000

I read this in the New York times on Tuesday..

"Everyone from first time home buyers to Wall Street chief executives made bets they did not fully understand and then spent money as if those bets couldn't go bad."

So basically the people that work in the financial sector don't know any more than I do about the economy? Great...

jsid-1201280301-586953  Kevin Baker at Fri, 25 Jan 2008 16:58:21 +0000

"If you lined up all the economist who ever lived...

...they wouldn't reach a conclusion." - Anonymous

It isn't so much what they don't know, it's what they know but deny.

jsid-1201283512-586960  Sarah at Fri, 25 Jan 2008 17:51:52 +0000

It isn't so much what they don't know, it's what they know but deny.

I took an economics class as an undergrad, and was shocked when, right after we discussed the negative impacts of price floors and ceilings as pertaining to the law of supply and demand -- complete with diagrams and charts showing how this works -- the professor still concluded that minimum wage was necessary.

jsid-1201288431-586966  DJ at Fri, 25 Jan 2008 19:13:51 +0000

Economists are often characterized as wizards of prediction even when their accuracy is exceeded by TV meteorologists.

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