GWC views on basic supply and demand

[The Real George Wythe]

I took my share of economics classes in college (enough for a minor),
enough to have a basic grasp on Keynesian economics as well as Milton
Friedman's work (I'm personally a follower of New Keynesian economist
Gregory Mankiw -- http://en.wikipedia.org/wiki/Gregory_Mankiw).

After reading this featured article from *The Statesman* on the role
of consumer spending in the U.S. economy, I was left shaking my head
and asking myself "What the...?" It comes across as a rant, not a
rational piece of analysis. One highlight is when the author describes
walking out of a "seminar" (a popular form of education for TJEd
devotees, I'm starting to notice) in a huff. Apparently he is unable
to listen to opinions not matching his own.

Yes, it is written by a GWC alumni.

http://newsletter.gwc.edu/a/FeaturedArticle/63

Enjoy!

Mr. Wythe

[Cynical Pen]

Well as far as I'm concerned, you're some kind of absolutist nutcase if you're a strict keynsian or strict classical, obviously as the 30's proved classical doesn't always work, and as the 70's proved Keynsian isn't complete correct either, I'm with the camp (which represents almost all modern economists) that says both approaches are valid, it just depends on the situation, ie: the ag demand curve slope, among other things.