Scott Adams: Economists Prefer Obama

Scott Adams, the creator of Dilbert, wanted to know which presidential candidates’ economic plan had the support of economists. Adams describes himself as socially liberal and fiscally conservative, and he believes economists have a worthwhile point of view if you ask them the right questions.

A medical doctor, he points out, can’t tell you whether you are going to die of a heart attack, cancer, or an auto accident. “But if a doctor tells you to eat less and exercise more, that’s good advice even if you later get hit by a bus.” In the same way, economists can’t predict where the economy will be a year from now, but they can give good advice on economic policies such as free trade.

Since no one else was asking economists for their opinions, Adams commissioned a survey of members of the American Economic Association. He reported a summary of his results to CNN. The detailed results are available in a PowerPoint file. You can read his press release about it on his blog.

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High-Speed Rail Part 6: The Risks of California HSR

Yesterday’s post on the costs of California high-speed rail discussed the likelihood that this megaproject will cost more than projected and the likelihood that taxpayers who pay for construction will have to pay again to rebuild the system every thirty or so years. Such costs are not so much a risk as a certainty. But there are many other risks involved with high-speed rail, some of which could unexpectedly drive up construction costs even more, and others affecting operations.

Some of these risks were identified in the senate oversight report on high-speed rail, including right-of-way, safety, and ridership risks. One important rish that was not brought out by the senate report is the risk that competing technologies will render high-speed rail obsolete.

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