The Washington Times,March 4, 2010 on page B4: Richard Rahn is chairman of the Institute for Global Economic Growth. He published accounting antics: "Fraudulent tax revenue forecasts" with a comic photo of a school and the sayings of the teachers in the light vein:"I finally understood negative numbers when they are just like the US budget deficit." The word" Nagative" may be desirable in medical jargon but not in economics and politics.
"Economists engage in endless debate about the long-run revenue maximizing rates for any tax,whether it is a cigarette,gas,general sales,property or income tax. All the taxes have been raised and lowered many times at the federal, state and local levels, so there is a good deal of empirical evidence about what the effects are likely to be." There are vested interests and personal bias,indeed.
There are disputes among economists in China or in any other nation for making policy decisions. That is economics in action for mature folks to understand or otherwise. The reader will have the volition for making judgment in shades of meaning.
"A Shady Lawyer's Bad Business." by Patrick Dillon and Carl M. Cannon. Broadway Publisher,$28, 532 pages. Reviewed by Claude R. Marx.
In "Circle of Greed: The Spectacular Rise and Fall of the Lawyer Who Brought Corporate America to Its Knees," Pulitzer Prize-winning journalists gave readers such revelation.
Francis Shieh a.k.a. Xie Shihao trying to learn the truth but truth in economics may be multi-dimensional as economic science is infamously inexact with focus on human behavior. Professor John K. Galbraith discovered many decades ago with his book entitled: "The Age of Uncertainty." Perhaps the title may be undated to "The Age of Great Uncertainty in the 21st century."(sic)
A book review of "Almost Everyone's Guide in Economics" can be searched at www.Atlantic Economic Journal, September 1979 issue to that effect.
Thursday, March 4 2010 at 12.06 p.m.
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