marxism on wgn-fm

[Brad DeLong]

>Brad DeLong wrote:
>
>>All sane advocates of market economies recognize that they need 
>>social democratic control to correct for externalities
>
>Do you think that most members of your profession, at least the 
>American ones, would agree? My guess is not, so that would make most 
>economists insane.
>
>Doug

I could insert a long mealy-mouthed explanation here. But let me be 
short: Yes. Many (most?) economists are not right in the 
head--relying on some ill-thought-out Coasian bargaining process to 
deal with externalities, and not thinking about the connection 
between distribution and social welfare at all.

Brad DeLong