I Have Friends, Political Scientists, Sociologists, Who

If The Price Of Everything Is Going Down, That's Going To Include Wages As Well. People Will Have An Incentive To Sit On Their Cash And Not Spend It.

...academic Credentials Are Neither A Necessary Nor A Sufficient Condition For Having Your Ideas Taken Seriously. If A Famous Professor Repeatedly Says Stupid Things, Then Tries To Claim He Never Said Them, There's No Rule Against Calling Him A Mendacious Idiot - And No Special Qualifications Required To Make That Pronouncement Other Than Doing Your Own Homework.conversely, If Someone Without Formal Credentials Consistently Makes Trenchant, Insightful Observations, He Or She Has Earned The Right To Be Taken Seriously, Regardless Of Background.

If You're Doing Your Job Right, Some Substantial Group Of People [is] Going To Be Mad At You.

These Days, However, The Main Problem Comes From The Right - From Conservatives Who, Unlike Most Economists, Really Do Think That The Free Market Is Always Right - To Such An Extent That They Refuse To Believe Even The Most Overwhelming Scientific Evidence If It Seems To Suggest A Justification For Government Action.

Most Work In Macroeconomics In The Past 30 Years Has Been Useless At Best And Harmful At Worst.