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What Good is the News?
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Stressful Enough
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Not Regretting the Pound
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Introducing the New Ford Squeeze
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Non-Economic Questions of the Day
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The Stress Test Blind Alley
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Recovery Without Rebalancing
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Feb 21 2008 12:00am EDT
Crowds: Stupid
Paul Kedrosky said this morning that he was thinking about "the anti-wisdom of crowds". I wasn't sure what he meant, until this afternoon:
The sort of things people want government to do to help the U.S. economy -- cut imports! halt immigration! drop/raise taxes by 100%!, etc. -- would pretty much take us into the Great Depression 2.0. Asking people for economic ideas isn't the solution, it's part of the damn problem.
Could Kedrosky be setting himself up as the new Bryan Caplan?
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