We Should All Be Enjoying The Good Life. Why Aren't We?

1st April 2020

There is nothing surer,

The rich get richer and the poor get poorer - lyrics of Gus Kahn.

Bill Paterson's Economy in the Scottish Review

In those two simple lines, Gus Kahn teaches us more about economics than many an economist's 500-odd page book does.

Economists are excellent at summing up what has happened; they are even quite reasonable at telling what is happening; but they are hopeless at telling what is going to happen and, as to what should happen, they are miserably divided - and always wrong. That is because economics is a pseudo-science or, even better, a sham science; in fact there are no true laws in economics apart from the one Gus Kahn espoused.

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