I Don't Think that Word Means what you Think it Means
DeLong tells us what economics calls for, to chew out Allen Meltzer. Unfortunately for DeWrong, economics does not call for anything. Certain moral theories combined with economics may call for certain things, but economics calls for property rights and subsidies and such as much as astronomy calls for dividing the year into 12 months. Not the only mistake that DeLong makes in the post, but the most egregious in my mind.