QUOTE OF THE DAY. Coyote Blog develops The American Question.

Economics is a science. Willful ignorance or emotional rejection of the well-known precepts of this science is at least as bad as a fundamentalist Christian's willful ignorance of evolution science (for which the Left so often criticizes their opposition). In fact, economic ignorance is much worse, since most people can come to perfectly valid conclusions about most public policy issues with a flawed knowledge of the origin of the species but no one can with a flawed understanding of economics.

Postscript: In fact, the more I think about it, the more economics and evolution are very similar. Both are sciences that are trying to describe the operation of very complex,bottom-up, self-organizing systems.And, in both cases, there exist many people who refuse to believe such complex and beautiful systems can really operate without top-down control.

Complex adaptive systems do pretty much what they damn well please, forsooth!