Re: Postrel on liberalization

[Alan G Isaac <aisaac@xxxxxxxxxxxx>]

On Tue, 27 Aug 2002 16:53:27 -0400 (EDT) Diego Miranda <miranda@xxxxxxxxxxxxxxx> wrote:
> And I was not, in any case, referring in what you quote above to
> the press article  in question, but to your  general claim that not even a
> mediocre economist would use nominal figures.  Many do in the press, and
> are quite successful in missleading the public.

Perhaps we work with a different definition of 'mediocre' or
of 'economist', or perhaps my memory fails me.  But I would
like to have some examples.

If we turn to policy commentators, on the other hand, I
readily grant your point.  I am still flabbergasted by
the cynical rhetoric of Bush père in the 1984 vice-presidential
debates when he responded to Ferraro's attempt to
distinguish the nominal and real interest rates by saying
(as best as I can recollect), ``Why everyone knows that
the *real* interest rate is the one you pay to the bank.''

Cheers,
Alan