Peter Boetke in his new book, "Living Economics" throws out the following:
"Economics put parameters on Utopias".
The more famous quote of Friederich Hayek strikes a related chord:
"The curious task of economics is to demonstrate to men how little they really know about what
they imagine they can design."
So politicians need to be careful to have supportive economists on board for their various utopian plans. They will need some that will be very parsimonious with the parameter placements.Fortunately for the politicians they can always find a least one PhD economist to argue for whatever position.
Some parameters might have disabused apologists of belief in the promised utopia of ACA (aka Obamacare) .The hucksters promoting the plan prior to its passage spoke of saving the country from bankruptcy and increasing access to care and improving quality. So how has that worked out for you?
Professor Gruber has been late in providing some parameters .
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