Is There Something Freaky About Heavy Duty Economics?
By Bill Wade Wade& Partners Economics is often derisively referred to as the dismal science, perhaps deservedly so. There is not much about the Laffer Curve or Liquidity Preference Theory that makes you want to run out and buy an Econ text for a little summer reading. Until now … Freakonomics (by Steven Levitt and Stephen Dubner) is a challenge of convention that all of us need once in a while to remind ourselves that the obvious is not always apparent. It is short and refreshing … even a bit controversial. The book celebrates Levitt’s underlying belief that the modern world, despite government obfuscation, academic complication and the deceit of political correctness, is not impenetrable. It is not unknowable, and if the right questions are asked, the solutions are flat out intriguing. We should try applying these unconventional thought patterns to some myths currently affecting our business: Ethanol will be transportations salvation and the damnation of Big Oil. Where does ration
