I'm an Economist by academic training...is it OK with my fellow FReepers if I call Warsh an a$$hole? My dog-eared copy of “The Road To Serfdom” is one of the handful of books I would grab from my personal library to save if my house caught fire. Every time I read it another irrefutable truth about man, economics and freedom leaps from its pages.
In about one hundred easy to read pages, the road to serfdom can set one on the right course to think about the economy and society.
Thank you Hayek!
Modern economists tend to believe it's about numbers and money and markets.
Hayek and Mises ascribed to that PORTION of economic theory...but expanded it into the realm of human behavior and drew more real conclusions.
Geniuses.
On that last, freedom, I have a great quote by Hayek towards the top of my FR profile page. Enormous insight into human nature and totalitarianism in the modern world in two short paragraphs.
Warsh makes a common mistake. He confuses economics with linear regression analysis.
“The Constitution of Liberty” is a much better book.
I like your tag! Fits...