The difference economists have made

Tyler Cowen and Arnold Kling salute the new Robert Litan book Trillion Dollar Economists, on how economists and their ideas have contributed to the world in practical ways ranging from auction design and financial innovation to telecommunications and prediction markets.


  • Which they couldn’t have done otherwise?


  • Yes, just look at the damage they’ve done – the clown economists in charge at the Fed have the financial equivalent of 1,000 50 megaton nukes at their disposal….plus the hubris to think they can use them willy nilly.