January 9, 2009, 6:00 am
An Economist’s Mea Culpa
By Uwe E. Reinhardt
Uwe E. Reinhardt is an economist at Princeton.
Update | 3:19 p.m.
If, like every university, the American Economic Association had a coat of arms, its obligatory Latin banner might read: “Est, ergo optimum est, dummodo ne gubernatio civitatis implicatur.” (“It exists, therefore it must be optimal, provided that government has not been involved.”)