Wednesday, December 23, 2009

Blockquote X

X = Ron Coase:

It is a striking – and for that matter depressing – feature of economics that it has such a static character. It is still the subject that Adam Smith created. It has the same shape, the same set of problems. Now of course we’ve made improvements, we’ve corrected some errors, we’ve tightened the argument, but one could still give a course based on Adam Smith. In some respects it would be better; in some respects it would be worse. But we could base what we say on Adam Smith.


Anonymous said...

It's a problem that Adam Smith got it mostly right?

Anonymous said...

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