The Corner

Economics Primer

In a column I wrote a while ago I confused comparative advantage with

absolute advantage. This brought in many scathing e-mails from economists.

Economists can be very scathing people.

Here is Arnold Kling being scathing. Now, the thing I — I,

uneducated in economics but not, I hope, math-phobic — want to know is

this: Just how indisputable is what Kling says here?

Sure, Arnold Kling is terrifically well-credentialed. So, however, is Paul

Craig Roberts, at whom he scoffs. Whom should the non-expert believe? It’s

like listening to an auto mechanic telling you waht’s wrong with your car

and how much it will cost to fix it. Sure sounds plausible, but… ?