Ezra Klein: Second Coming of David Ricardo?
For someone who loves to slag off “neoclassical orthodoxy,” Ezra really is the embodiment of one of the orthodoxy’s favorite ideas: Comparitive Advantage. In reference to the High Priest of the Neoclassical Orthodoxy, N. Gregory Mankiw, lets go over a classic example of comparitive advantage, from the Bible of the Neoclassical Orthodoxy, Principles of Economics.
Michael Jordan can probably mow his lawn faster than anyone else, but just because he can mow his lawn fast, does this mean he should?
I guess the corollary is, I could try to write about Obama’s health care plan, but I’m much better at long, ranty posts about paleoconservatism. Ezra, on the other hand, is the Michael Jordan of health care blogging, and when a health care plan comes along, his subsequent blogging is kinda like this:
Whether this has any relevence to trade policy, well, that’s a debate for a different time.
Dude, you know that Mankiw is a neo-Keynesian, right? That’s about as far from the “neoclassical orthodoxy” as most famous economists get.
There was definitely a degree of sarcasm in your writing, so I’m not sure whether you meant to seriously imply Mankiw was represents neoclassical views (comparative advantage is fundamental enough not to belong to any school of economics).. but why not boost the comment tally, right?
Matt Rognlie
May 30, 2007 at 12:20 am
Well that post is run through with irony, sarcasm and impercision. I picked the wrong phrase, instead of neoclassical orthodoxy, i should of just said “mainstream orthodoxy” which Chris Hayes and the like still object to. Mankiw, being the most influential teacher in the country, supports all of the policies that gets Hayes, Sawicky etc so riled up about mainstream economics. By “neoclassical” I was refering to his mainstream methodology, not to his ideas about menu costs, price stickiness, or any of the fun stuff, instead I’m refering to the textbook author Mankiw, who offers up a support of free trade based on comparitive advantage, supportive of open markets,short tradeoff bw unemployment and inflation etc I should, however, use such terms of art more carefully.
And yes, no blog was ever hurt by more comments.
Matt Zeitlin
May 30, 2007 at 12:33 am
Hello
Great book. I just want to say what a fantastic thing you are doing! Good luck!
G’night
tovorinok
July 4, 2007 at 7:17 pm