Market Correction

From Research By My Colleague David Levy
3 May 2006

Editor, The Washington Post
1150 15th St., NW
Washington, DC 20071

Dear Editor:

Arthur Schlesinger, Jr., repeats Thomas Carlyle's famous dismissal of economists as being practitioners of "the dismal science" ("J.K. Galbraith's Towering Spirit," May 3). But Mr. Schlesinger seems unaware of Carlyle's reason, in 1849, for issuing this criticism. Carlyle was a reactionary who supported slavery; he was furious at economists for being outspoken proponents of abolition.

Far from a black mark on my profession, being called a dismal scientist by the likes of Thomas Carlyle is a badge of honor.

Sincerely,
Donald J. Boudreaux
Chairman, Department of Economics
George Mason University
Posted by Don Boudreaux on Sunday February 18, 2007 at 3:23pm

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