Does This Make Any Sense?

I am often amazed by the nastiness and smugness of the left. Perhaps it is just me, but MSNBC folks have the smirk on their faces that is pandemic amongst the left, that look like we are right and you are just dumb, real dumb.

Now there is a chubby economist on the left coast who for reasons known only to him, has this habit of making snarky comments about those he opposes. I can see this on some electronic instant messaging but from an accredited full professor type, it is unbecoming. It is akin to the gnome from the South upon whom I had  placed some remarks recently.

The issue is Say's Law. Say I gather was some economist, or so they so tell, and his "Law" is either believe or doubted. Frankly it is irrelevant. The fact is that people respond to what they believe, and belief is a stronger driver than all these facts. That is to some degree the essence of Nick Rowe's soul searching and it is at the core of what I termed the Rowe Conjecture. It is a battle between belief and fact. Belief drives so many things, despite the facts. The collapse of the housing market was as much driven by the belief that made it grow and then tore it down.

Now economists have no real way to measure belief. And, yes, people believe different things, so there is no one belief. Just go to the racetrack. That is the heaven of belief.

Thus if someone makes a statement which flies in the face of the "Law" of whatever economist stated it, one should always remember that belief tops any law. And, yes, we have not yet figured out how to measure that o less change it. Although true leadership can often do so. Sadly we have none.