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False Profits by Dean Baker

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Economic Collapse: It Is Their Fault

Imagine if the economy were managed by people who did not know basic arithmetic, the stuff that we all learned in third grade. Imagine further that as a result of their inability to understand simple arithmetic, huge economic imbalances grew to ever more dangerous levels.

If this happesned, surely the business and economics reporters would be on the job, pointing out the ungodly incompetence of the country's top economic officials and the risks that their ignorance posed for us all. Undoubtedly, thousands of economists, all quite skilled at mathematics, would be pointing out the errors. Members of Congress, ...

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