It’s a little odd to be having this conversation as the news media keep insisting that private employment is picking up. But as economists have pointed out to all who will listen, the only real change is that the rate of layoffs has slowed. Fewer than one of six small businesses added jobs last year, and not many more expect to do so this year. The private sector is creating no more new jobs than it was a year ago; the man in the aisle seat is trying to tell me why.
Be sure to read to the end. Not because you're going to learn anything new, but to witness Professor Carter learning something new.
h/t Marine
Yup, regulatory uncertainty. Just like the 30's, "what are they going to do next? I don't know, so I'll wait to find out." I'll bet that the bulb doesn't stay lit over the good professor's head for long, once he's back amongst like-thinkers he'll go back to knowing what's best for everyone else again.
Gawds, I despise those people.
The delusion of these elites is truly pathological and absolutely despicable. And what old Lori said.
T'is why I got out off business, and stay out, hire a fool and have endless grief with the "man"
And right on cue, to have an example exactly the kind of scumbag intellectual who is in the process of destroying the West
http://www.youtube.com/watch?v=GKB4E4paX9w
Obama's advisor, wouldn't you know.
"You can easily tell a Yale man -- but not much"
This is one of the main reasons why the west is failing.
"I argue a bit. Surely government isn’t all bad. It protects property, the environment, civil rights . . ."
And there it is, the great rationalization. As long as government pretends to do a few good things then Academics & Co. give governments a free pass for every other crappy regulation and intrusive policy. If government power and revenue is even slightly reduced then society would immediately begin to disintegrate (think about the conniption fit over the long-form census changes). I often read other versions of this argument :
Less regulation --> people dying, chaos, anarchy
Lower taxes --> no police service, roads crumbling
The same academics who now realizes that "As an academic with an interest in policy, I tend to see businesses as abstractions, fitting into a theory or a data set." is a problem might want to further expand his horizons. For his next awakening he should plan an extended tour of various government agencies. He would soon realize there is lots of room for spending and regulation cuts that would not result in front-line service reductions or other catastrophes. Given enough exposure to the public service, he might even discover that it is government organizations that are greedy, unproductive and inefficient - not private business.
Despite their talk of a well-rounded education and thorough research, most academics quoted in news articles do not have a good grasp of these obvious realities about government and business. Journalists reliance on profs to analyze and guide public policy truly is the blind leading the blind (who become angry and defensive when others point out their unfortunate disability)
...an academic with an interest in policy...
Often the problem lies with an unhealthy mix of POLicy and POLitics.
LC Bennett, hear hear!
Front line service cuts are never necessary. What they are is EXTORTION. Every time the public votes for a tax cut, these wise guys cut cops and fire. Mr. Law Professor goes along with the gag too.
Law professors seem to be bad at math.
He still can't let go of the idea its the Govrnment intself that is the giant killer.
He still thinks of big Government as his God, & we must all submit to its dictacks.
He still dosent see the real problem. Hes still balming buisness not the souce of the sickness. His own Elite views.
JMO
Once again, you have pinpointed the problem, IMO Revnant Dream; in a nutshell. The 'elites' patronizing their betters; Turdo started that here in Canada and it has spread like VD in a Torana massage 'clinic', and then blaming the non clients (the betters) for the warts they wish they had not found.