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Wednesday, June 8, 2016

THE DOOMSDAY DISCIPLINE I HAVE SAID THIS BEFORE BUT WHY NOT SAY IT AGAIN INCOME CONVERGENCE

is a phenomenon created and promoted by almost all economists, because they all support the concept of economic globalization and integration.

That is why I have called economics The Doomsday Discipline.

They abhor wealth and income divergence, and ignore the 800 pound convergence gorilla in the room.

Piketty, Rodrik, etc., included.

Steingart, I think, is an exception  (The War For Wealth), but, of course, he is not, as I recall, technically, an economist but rather a ' pundit ', a reverse Thomas Friedman, so to speak.

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