If you have a traditional view of economics, you're probably thinking of Ben Bernanke making Fed policy, or the guys creating financial derivatives at Goldman Sachs.
Sentiment: NEGATIVE
Economists create their own worlds. We're like little gods with our artificial economics, wanting to see what happens.
I can't think of a president who has been overburdened by a knowledge of economics.
I've felt for some time that economics needs to be taught differently by economists who actually have had experience making a payroll or investing on Wall Street. When economics is taught by pure academics, watch out.
I took the obligatory economics classes in school, but I've long been a fan of the Milton Friedman philosophy and its libertarian bent: One must be free to do what one wants to do, as long as you don't harm another. This is the seminal treatise on free-market economics.
The Fed is the biggest enemy of this economy. In fact, Ben Bernanke, as far as I'm concerned, he's public enemy No. 1. We're never going to have a recovery while this guy's in charge.
In this age of specialization, I sometimes think of myself as the last 'generalist' in economics, with interests that range from mathematical economics down to current financial journalism. My real interests are research and teaching.
People want to think of economics as a natural science, like physics, with the comforting reliability of simple-to-understand theories like F=MA. Unfortunately, it isn't. Economics is a social science, and the so-called theories are really social and moral constructs.
The economics profession advances by one confusing financial disaster at a time.
I am aiming my books at anybody with no economics background.
Cruz named Former Texas Senator Phil Gramm as his economic guru. This guy virtually crashed the U.S. economy. Gramm is largely responsible for two bills which led to the speculative bubble which popped in September 2008.
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