Tuesday, November 24, 2009

Investigate Economist Opinions

Never, never, never, take an opinion of any economist unless you first know the background of that economist.

I use my own fast screening process before I get into details. Not everyone has the time nor the inclination, nor the job for getting into the details. So the fast screen is essential for public use.

Find out if the economist believes in free markets. If he or she is a favorite of a left-leaning politician, you know the economist fails that test.

Note: As a further test, I find out if the economist has had entrepreneurial or an industrial or business background. A free market economist, such as Milton Friedman, never came from industry, but he fully understood industry’s optimum needs.

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