From: GERALD LEVY (gerald_a_levy@msn.com)
Date: Sat Mar 08 2008 - 18:09:50 EST
> I would have to agree with my uncle that WD-40 is probably the greatest invention of the 20th century. Hi Gary: It's worthwhile to note (given a recent thread that we had) that WD-40 was initially developed for a military application: its original purpose was to protect the exterior of the Atlas missile from corrosion. http://en.wikipedia.org/wiki/WD-40 If your Uncle likes WD-40, he is almost certainly a fan of duct tape - yet another product originally developed for a military purpose: it was used in WWII on ammunition cases. http://en.wikipedia.org/wiki/Duct_tape > But why all this skepticism about the National Income & Product Accounts, which were in fact a pretty nifty and useful achievement? Nifty? Perhaps. But Mr. Potato Head and the slinky were nifty as well. Useful? Sure - to some degree. What I object to is the - absurd! - claim that it was one of the most important inventions of the 20th Century. This claim - made by Nordhaus and Samuelson, and uncritically supported by Tobin - reeks of arrogance and exaggerated self-importance on the part of mainstream economists. It's worthwhile in this connection to note the content of Charlie's post: Samuelson had no qualms about poking fun at the "exaggerated claims" of the Physiocrats but then makes his own exaggerated claims. In solidarity, Jerry _______________________________________________ ope mailing list ope@lists.csuchico.edu https://lists.csuchico.edu/mailman/listinfo/ope
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