Entire Biden economic team needs to be replaced
COMMENTARY
By Richard W. Rahn - - Monday, August 1, 2022
OPINION:
What is a recession? Who is to say? What is an economist, and who is to say? For many years after completing my graduate education, I called myself an economist with a certain pride — but these days not so much. I thought I was following in the footsteps of many great thinkers, starting with Adam Smith who fathered the field with his great book, “The Wealth of Nations” (1776), followed by people like David Ricardo, John Stuart Mill, Frederic Bastiat, Alfred Marshall, up to the modern era with Milton Friedman, F.A. Hayek and many others.
Rather than continuing to advance knowledge, many of the better-known economists seem to have forgotten the fundamentals, which is causing them to say idiotic or “woke” things and, worse yet, convince political airheads like President Biden to follow disastrous policies.
Fortunately, we are blessed with many funny, yet solid, thinkers outside the world of academic economics. One of those is Bill Frezza, an MIT-trained electrical engineer, successful venture capitalist and policy wonk. Back in 2012, he wrote a classic article for Forbes, asking: “Why do we allow economists to formulate economic policy?”
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READ MORE: https://www.washingtontimes.com/news/2022/aug/1/entire-biden-economic-team-needs-to-be-replaced/
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