Wednesday, December 19, 2007

Are you running a trade deficit with your grocery store?

From former student John Tamny:

In his book Labyrinths of Prosperity, Canadian economist Reuven Brenner professed that, "Macroeconomics is a tautology and a myth, a dangerous one at that, sustaining the illusion that prosperity is necessarily linked with territory, national units, and government spending in general."

Perhaps nowhere is the absurdity of macroeconomics more apparent than in the discussion of the trade deficit...


  1. Yes, and if I get mad about it, I can always fire my grocer, as Alchian and Demsetz (1972) explained.

  2. Luke,

    Do you know an easy and inexpensive way to buy a copy of the book?

    It looks to be out of print.