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:
awesome :)
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.
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...
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