Monday, October 22, 2007

Masonomics: "Markets Fail. Use Markets."

Arnold Kling describes "Masonomics" (the economic approach of the George Mason University Department of Economics) this way:

At the University of Chicago, economists lean to the right of the economics profession. They are known for saying, in effect, "Markets work well. Use the market."

At MIT and other bastions of mainstream economics, most economists are to the left of center but to the right of the academic community as a whole. These economists are known for saying, in effect, "Markets fail. Use government."

Masonomics says, "Markets fail. Use markets."

I'm down with that.


At 3/22/2009 6:31 PM, Blogger KG said...

...probably down 70-80%, by my guesstimate, thanks to guys like me.



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