Economics as a prostitute

Economics – If you have arguments you could use it.

State control was economy in India in the Neheruvian era. In many ways,  the controlled people may have been screwed up  more than the imperialists screwed India.  The economists who supported it are modern day heroes and politicians and greatest Indians.

I am not sure what is happening with the economics nobel prize, a respected magazine implied this was awarded  as endorsement of  political position. One of the recent nobel laurates had harsh words to say on language of mathematics to understand economics, he depended on the intution. How does the mundane interpret it ?

http://online.wsj.com/article/SB123310466514522309.html

A 40-Year Wish List

You won’t believe what’s in that stimulus bill.

That is the headline of that article.  The spending is supposed to be for job creation. We have such programs in India, they make societies little more dysfunctional where everybody wants to be a political tout, there is too much money there.

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