I mean when they put in income (thus, market) and savings behavior differentials, THEY can't reproduce the data because the model rich don't get as rich as the real rich.
I mean do conservative economists - like Friedman for example - simply not deal with the fact that their own models do not produce enough wealth inequality to conform to the data?
Am I missing something here?
Boddi
On 10/11/06, Doug Henwood <dhenwood at panix.com> wrote:
>
> On Oct 11, 2006, at 11:25 AM, boddi satva wrote:
>
> > Do conservatives try to explain the concentration of wealth in the
> > U.S. with models that comport to the data or do they just talk a lot
> > of Laffer Curve nonsense and are never made to explain why the wealthy
> > are so wealthy?
>
> It's because they're so wonderfully skilled and the market is
> rewarding them appropriately, of course.
>
> Doug
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