Professors Make More Than a Thousand Dollars an Hour Peddling Mega-Mergers
Most of economics is an intellectual veneer to justify politically motivated policy actions. The 'science' is seldom predictive, nor does it even attempt to be. It has more in common with augury.<p>This blurb, for instance, openly admits their expert opinions are for sale,<p>'Economists have an “incentive to get a reputation as someone who will make a certain type of argument. People will hire you because they know what testimony you will give,” said Robert Porter, an economist from Northwestern who has never testified on behalf of a corporation in an antitrust matter.'