It was not long before other economists started getting shiny about the sniveling admission and began pointing out that they just did not do predicting. The author learnt from a chum who deals in insurance linked futures. They meet now and again for lunch, which is how the author discovered that he was a serious economist with a lot of academic papers to his credit. His view is that Keynesians and monetarists are not right. He is a fan of the Austrian school' of economists that numbers Schumpeter and Hayek among its luminaries. The Austrian mob preaches about things that seem no more than good sense. Part of the Austrian school's recommendation is for tax cuts. This would not necessarily mean less government revenue. If tax is 100%, no one would bother to work so the tax take is zero. Equally, if tax is set at zero, economic activity might swell dramatically but government would still receive zero.
A little bit of reason? Peter Banyard Credit Management; Sep 2009; Docstoc pg. 14 Reproduced with permission of the copyright owner. Furthe
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