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
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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....

October 28, 2016 at 11:53 AM
Peter Pan said...

Surplusnomics to the rescue.

October 28, 2016 at 12:09 PM
Matt Franko said...

Well gold and silver are scarce...

October 28, 2016 at 1:13 PM
Matt Franko said...

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

October 28, 2016 at 1:15 PM

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