The Ring of Truthiness

From a Freakonomics post at the New York Times:

If I were a clever, real economist, I might neatly package the conclusion along the lines of the demand for opiates being relatively inelastic, but the brand (?) sensitivity is low, and once the incidental costs of heroin (inconvenience, lower quality, abscesses, disease, visibility) became lower than the absolute cost of oxycontin, the market suddenly tilted. (That’s probably mostly gibberish, but it sounds economish.)

Economish! Great coinage there. ‘Supply-side economish.’ ‘The Austrian school of economish’.

Plus, it’s a great word to use, representing the evaporation of any credibility the whole discipline may have once had. Anyone see where the Dow is these days? Exactly, who cares!

One thought on “The Ring of Truthiness

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