Austrian Fellow Traveler Mark Skousen gives an interesting rundown of his encounters at the latest American Economic Association meetings in Chicago where economists from around the globe meet and present papers on current issues.
Dr. Skousen has a number of well-conceived books on theory, investing, and the history of economic thought, but his essay Persuasion vs. Force remains his best work while his article The Art of Letting Go is a close second.
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Any person with a college degree in basket weaving could have given the answers that the Nobel Prize winning economists gave. If you read any financial paper of magazine or blog you know the standard answers – print more, tax more, spend more. Their shallowness is very disappointing.
I was greatly encouraged that there was a panel on the Euro and the EU Crisis and was doubly encouraged by the participants. Bob Mundell, Gary Becker, and Robert Zoellick make a very interesting group. I guess they included Larry Summers for comic relief.
I was also encouraged that all of the participants, apparently even Summers, agreed that Mitt Romney’s bashing of China as a currency manipulator was a disaster looking for a place to happen. Free market economists are not yet dead.
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