Law and Econ elements

Max Sawicky sawicky at epinet.org
Thu Mar 18 12:04:01 PST 1999



>
> Most people presenting papers were academicians and there were
a few apologists for the Clinton administration. I expected some flack for not using what passes for "accepted" sources and for presenting a critique based on the political economy- I was proud to be able to speak in a way that presenters who were protecting their pensions could not.

My co-presenter was from Stanford. He stuck to the Law and Econ theorists like a fly stuck to flypaper. His heros - Richard Posner and Richard Epstein. Any comments on these two will be welcomed. But what was astounding was that he actually claimed that economics was NOT political. In his view, there is no political economy. Is this the standard line out there now in universities??>

I'd say no on balance, though usually the notion of 'political' is impoverished in one way or another. You seem to have bumped into one of the more moronic of the breed.


>> For Max - and EPI folks
The commentator was an economist from Cornell. He was very critical of my having used EPI as a reputable source. He said "It's controlled by >>

And who might this cupcake be?


>labor" but then proceeded to use the President's Economic
report as an unbiased report of how well the economy is doing. He also tried to convince me privately that the minimum wage had contributed nothing to people's economic well being and is sending some "proof" in the mail. .>

We'd love to see this proof. We might nominate him for the Nobel. As for the ERP, we've also noticed the economy isn't doing badly in terms of the principal macro measures. Obviously we'd differ on why, or on what's most important in the welter of assorted indicators.


> We might agree that the minimum wage is not a living wage but
he was saying it had no valid purpose or place in the scheme of improving people's material reality. This guy calls himself left of center.>

Sad to say, he could be right.


> Whew! those of you who face this everyday may be used to it
but I found it very disheartening. The encouraging part of the experience was that many disabled people felt that my economics centered work was of import, was filling some missing gaps, so perhaps I am beginning to make some inroads there.>

Thanks for the report.

Best,

Max



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