Saturday, 17 March 2012

The problem with 'star' economists

Thanks to the weekly feature 'Lunch with the FT' we now know that Esther Duflo is 'petite' and about to become an American citizen (why is she renouncing her heritage?). God be thanked that the real 'stars' of economics never had to submit to the hagiographic treatment in a FT lunch session. The irony is that the 'star' professors that the 'elite' universities keep are beneficiaries of protectionism as they sit in a tenured position that protects them from the ravages of the economy that they purport to 'study'. Similarily, the 'elite' universities in the USA are part of the 1 per cent system where the rich donate to the same few universities that host their pampered and privileged offspring - thus aggravating and perpetuating a system that favors the few over the many. Maybe this 'star' economist should study this abuse and not wether or not the poor should pay for their mosquito nets or not.

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