Saturday, August 28, 2010

Uwe Reinhardt on Efficiency


His last two Economix columns dissect the concept of efficiency and lay bare the kind of things economists want hidden when they pass it off as if it's value-neutral or value-free.

Excellent stuff!

The second column ends with this warning:

My advice to students and readers is: When you hear us economists wax eloquent on the virtue of greater efficiency — beware!

3 Comments:

  1. batt said...

    awesome :)

  2. Janaki said...

    A HT to Mankiw was in order (http://gregmankiw.blogspot.com/2010/08/reinhardt-on-efficiency.html)

    While your blog is little more than cut-paste exercises, I believe there are plagiarism rules even here.

  3. Abi said...

    Janaki: Thanks for the pointer to Mankiw's post. I stopped reading his blog a long time ago, so it was interesting to catch up on some of his recent posts...