Economists are to explain obvious
Today I was reading a post by Don Boudreaux on the taxation of oil companies profits. He mentions that the arguements in favour of a tax on so-called "windfall profits" is so lame, so utterly gossamer, that pointing out its flaws seems to be an exercise in stating the obvious.
In reponse one of his readers commented that "It may be stating the obvious, but isn't that what economists are for? Stating and proving the obvious is what economists do best."
That is funny. So we are not the only economists who should explain their government and MPs some obvious issues like maintaining the interest rates above than inflation or the effects of monetary expansion on inflation rate. The American economists are also to teach their president and congress on the priniciples of taxation.
Comments
Look at this post:
http://nannigiainsider.blogspot.com/2006/04/natural-resource-curse.html
Posted by: Yeganeh | May 1, 2006 12:44 AM
I always thought that most economists are stupid, seeing only the obvious but this Don Boudreaux seems even worse, try to sell his trash to any American and they will spit on your face.
Posted by: Sahand | May 1, 2006 03:58 AM
I said, most economist were stupid not all, well one of those not to be stupid died today, according to a report he was 50 years ahead of his time, warning then Kennedy administration of the corporate power in US, his name is
John Kenneth Galbraith. I hope his soul is resting in the heaven while the Neo-conservative economist’s are burning in the hottest spot of the hell
Posted by: Sahand | May 2, 2006 04:03 AM
You write like the tax issue is a very trivial and solved matter in economics. I have seen several talks and disputes in TV shows and also based on the elementary search I did this matter is under hot disput. I strongly disagree with you on the tax issue. Please present any such obvious argument you have on banning the tax... I would like to hear it.
Posted by: saeed | May 4, 2006 06:09 AM
The other fact is that what seems trivial to you may be difficult to understand for others.
I mean, the statement "It's a waste of time to explain trivial things" always holds, but "trivial" is something that is trivial for many.
Posted by: mohammad | May 4, 2006 06:39 PM
Hamed:
Is it exam, or laziness! Hope it is the first. Looking forward to reading your new posts.
Iraj
Posted by: ahmad seyf | May 5, 2006 11:48 AM
salaam,
I hope you are doing ok with finals, etc.
Well, the reason I put the comment is that I am really surprised how you simply imply that american debates are as basic or simple as ours.
There are tons of economists in a wide spectrum of think tanks, studying all issues, making ideas and giving advice to every decision maker in washington. Please don't even try to compare it with Iran jsut like that.
The issue of windfall profits of oil industry is not as stupid as that blogger tries to say. Oil insustry has historically involved in price fixing and illegal anti-competitive behaviour. (history of anti-trust laws in US starts with Oil insustry.) the ongoing debate now and the testimony of CEO's of oil companies in senate is "partly" in response to the mass concern as to whether this high profits have to do with any illegal conspiracies of oil companies.
You may be for or aginst US anti-trust regulations, but there are lots of top US economist on both sides of the issue.The american "league" is a totally different one that the iranian one!
Posted by: faezeh | May 6, 2006 11:10 PM
(where did my comment go? :( Just in case, I post in twice.)
salaam,
I hope you are doing ok with finals, etc.
Well, the reason I put the comment is that I am really surprised how you simply imply that american debates are as basic or simple as ours.
There are tons of economists in a wide spectrum of think tanks,
Posted by: faezeh | May 6, 2006 11:12 PM
Hi Mr.Hamed!
I'd like to suggest you to write about these 2 issues: 1-The effect of Iran nuclear case on Iranian economy. 2-Explaining the economic actions done by the Iranian new government (for example: what did they do with the excess income of Oil?! ...)
Thank you!
Posted by: Meysam | May 7, 2006 12:47 PM
seems you are dealing with final exams... or, maybe something more important! anyway, I'm looking for an update here ...
Posted by: Meysam | May 16, 2006 05:24 PM
seems you are dealing with final exams... or, maybe something more important! anyway, I'm looking for an update here ...
Posted by: Meysam | May 16, 2006 05:24 PM
hi
just came across your amazing economic blog a little late! i was wondering whether u can recommend me some sites in which i can find economic articles. i'm tired of wandering in sciencedirect!
Posted by: Anonymous | June 11, 2006 08:20 AM