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5 Myths About That Depressing R-Word

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From: The Washington Post
Date: 20080120
Author:Kevin A Hassett

When Scottish historian Thomas Carlyle branded economics the "dismal science" in 1849, he gave it a name that would stick. (Some theorize that he picked on economists since, like most Scots back then, Carlyle had never visited a dentist.) Fortunately for economists, 1849 was a pretty good year. If Carlyle had seen how economists behave during recessions, he probably would have dubbed their subject something far worse.

Economists have the same occupational hazard as baseball managers and football coaches: Every person on the street knows their job better than they do. And if you listened to ...

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