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Monday, October 06, 2008

Why we need a few more economists in Congress (but not too many)

Dick Armey, Ph.D. in economics from the University of Oklahoma, provides his take on the buy-out plan (pre-passage). His last point is something to think about:
One of the worst things that could ever happen is for any politician seeking elected office to recognize that the problem is not as bad as it's being characterized. John McCain learned that lesson when he said something very obvious: that the fundamentals of the American economy were strong. They beat him around the ears. He's going to conform to prevailing political discourse, which is always dumb. Politics is the only activity in America where you can prosper by being purposefully uninformed and simple-minded.

HT: Steven Hicks

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