I Believe In A Relatively Equal Society,

Surely I'm Not The Only Person To Ask The Obvious Question: How Different, Really, Is Mr. Madoff's Tale From The Story Of The Investment Industry As A Whole?

This Is A Serious Analysis Of A Ridiculous Subject, Which Is Of Course The Opposite Of What Is Usual In Economics.

It Should Be Possible To Emphasize To Students That The Level Of Employment Is A Macroeconomic Issue, Depending In The Short Run On Aggregate Demand And Depending In The Long Run On The Natural Rate Of Unemployment, With Microeconomic Policies Like Tariffs Having Little Net Effect. Trade Policy Should Be Debated In Terms Of Its Impact On Efficiency, Not In Terms Of Phoney Numbers About Jobs Created Or Lost.

Most Work In Macroeconomics In The Past 30 Years Has Been Useless At Best And Harmful At Worst.

Debt Is One Person's Liability, But Another Person's Asset.