Long gone are the days when economists thought deeply about how life actually works. Adam Smith, Adam Ferguson, Anne-Robert Turgot – the great "moral philosophers" – all died hundreds of years ago. Since then, the trade has gone bad. They're all numbers guys now. An economist, of the modern variety, is a statistician...an extrapolator...and a mountebank. If numbers go up two months in a row, he predicts they will go up another one. He rarely stops to ask whether his numbers really make any sense.Bill Bonner on Bubble Deniers.
Census Cancelled
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*Statistics New Zealand has announced that it will not undertake a Census
of Population. According its media release, Wide-ranging improvements to
the da...
6 days ago
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