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7/28/08

City Journal: Economics Does Not Lie - by Guy Sorman

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Economics Does Not Lie - by Guy Sorman

"If economics is finally a science, what, exactly, does it teach? With the help of Columbia University economist Pierre-André Chiappori, I have synthesized its findings into ten propositions. Almost all top economists—those who are recognized as such by their peers and who publish in the leading scientific journals—would endorse them (the exceptions are those like Joseph Stiglitz and Jeffrey Sachs, whose public pronouncements are more political than scientific). The more the public understands and embraces these propositions, the more prosperous the world will become." Note EU-Digest: "A very optimistic view of the free market system which seems to cancel out the dangers it presents when Government regulatory controls are removed and total trust is placed on corporate decision making."

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