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Wednesday, March 25, 2009

re: idiots

Welp, I'm famous.

The letter is in response to an op-ed by Gary Becker and Kevin Murphy, who wasted several column inches whining about literally everything being done or proposed so far to counter the recession, and that we should merely be comforted that capitalism is STILL BETTER THAN STALIN. This is the kind of rigor you'd expect from the University of Chicago, founders of the 'Ass, Insert Thumb' school of countercyclical economic policy.

The tulip thing is a reference to the mania that took hold in Holland in the 15th 17th (ha, whoops) century, when the price of tulips resembled that of houses in the US in the 2000s, stocks in the late 90s, and on back, before deodorant. It's a clever way of saying that the weight of centuries of human activity lands squarely in the "Becker and Murphy are dumb" school of thought.

Oh yea, Becker and Murphy still somehow managed to win the Nobel prize in economics and the John Bates Clark medal, respectively. Way to go.

Separately, I'm very disappointed with the FT editors for mangling the intent of my original letter which appears below:
What, if anything, are Gary fuck Becker and Kevin Murphy fuck advocating in response to the global recession and financial crisis balls? I read and re-read their op-ed for a specific proposal cock but they seemed more or less satisfied with their attitude of: "if its broke, don't fix it." Their weener concerns about overbearing or unrelated government intervention seem fucking valid enough, I suppose, but if they really believe that "[g]iven the losses, actors in these markets have a strong incentive to correct their mistakes the next time", well then I have some motherfucking tulips for sale, word.

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