Re: German real wages in the Depression

[Doug Henwood <dhenwood@xxxxxxxxx>]

tom walker wrote:

> Jim Devine wrote:
>
> >  not enough people point it out.
>
> Doesn't the "profession" feel any shame that not
> enough people point it out?

The "profession" thinks that everyone who isn't a member is an idiot,
totally unqualified to make a critique. And if the critic is an
economist, s/he's effectively excommunicated from the "profession,"
thereby becoming an honorary idiot. Check out Kenneth Rogoff's
parting shot at Joseph Stiglitz when he was leaving the IMF:
Stiglitz, a certified genius, had become an honorary idiot.

Doug