Monday, September 12, 2005
Intelligent design in economics
I'd linked a few days ago to an excellent post by Don Boudreaux in which he made an analogy between biology and economics, equating natural selection with free markets, and creationism with central planning. Well, another excellent economics blogger, Arnold Kling, makes a similar analogy in a piece in Tech Central Station, accusing Brad DeLong of Intelligent Design, which he defines thus:
An Intelligent Designer can create policies, programs, and organizations through legislative fiat and top-down administration that operate effectively in a centralized manner. Government agencies and bureaucracies are like highly-tuned cars, needing only good navigators and drivers to race them to their goals.Naturally, whether in the biological sphere or in the economy, Intelligent Design is rubbish. Read Kling's piece for more -- or just look around you.