Friday, October 28, 2016

Gavin Kennedy — A New Myth Is Born


Appeal to Adam Smith is almost always an argument from authority, a logical fallacy. Moreover, the citation of this authority is usually wrong. It's actually a reference to Paul Samuelson rather than Smith.

Adam Smith's Lost Legacy
Gavin Kennedy | Professor Emeritus, Heriot Watt University

4 comments:

Matt Franko said...

"Economics is often considered the “Dismay Science” because of its enduring focus on the competition for scarce resources"

We are in CONSTANT surplus....

Bob said...

Surplusnomics to the rescue.

Matt Franko said...

Well gold and silver are scarce...

Matt Franko said...

Should be: "the competition for scarce gold by trading surplus product for it..."