Which Qualifies Him to Write On Economics for the WSJ - In Fact, It's a Requirement
He is really not this ignorant, he has a hidden agenda
If you have an inflexible ideological bias, like the editorial pages of the Wall Street Journal, and basic Macro Economics does not support your positions, what do you do? What do you do?
Easy answer, you have one of your regular editorial page writers make stuff up. By claiming what he writes is real economics, you can have the pseudo economics support your positions. This frees you entirely from the constraints of logic, analysis and data.
This week Mr. Stephen Moore gets that assignment. He seems like a natural, probably why he was chosen. Here is a sample of his make believe economics.
Consider what happened last week when Laura Meckler of this newspaper dared to ask White House Press Secretary Jay Carney how increasing unemployment insurance "creates jobs." She received this slap down: "I would expect a reporter from The Wall Street Journal would know this as part of the entrance exam just to get on the paper."
Mr. Carney explained that unemployment insurance "is one of the most direct ways to infuse money into the economy because people who are unemployed and obviously aren't earning a paycheck are going to spend the money that they get . . . and that creates growth and income for businesses that then lead them to making decisions about jobs—more hiring."
|This is a Whopper Mr. Moore|
Your Explanation of Economics is also a Whopper
Let’s leave aside the obvious moral issue of supporting people who are unemployed through no fault of their own and want to work (the very definition of cyclical unemployment) and see what Mr. Moore is saying.
First of all, almost every economics Ph. D., even those from non-elite universities believe what Mr. Carney said is true. Yes there are dissenters, but only those who ideological bias and desire for an appointment in a Republican administration drive their positions. But Mr. Moore makes it personal
I have two teenage sons. One worked all summer and the other sat on his duff. To stimulate the economy, the White House wants to take more money from the son who works and give it to the one who doesn't work. I can say with 100% certainty as a parent that in the
household this will lead to less work. Moore
Oh, and the title of Mr. Moore’s piece, “Why Americans Hate Economics?” The answer of course is that they have been deceived by people who use the credibility of a great newspaper like the Wall Street Journal to peddle myths and mistakes. That would make anyone hate any social science. His comments even tend to turn The Dismal Political Economist (one of those Ph. D.'s from an elite University) against the field.