Jay Livingston takes a look at Gary Becker’s explanation of the recession. Becker’s problem is that his expertise is theoretical microeconomics but he’s opining on applied macroeconomics. That’s something like expecting Raymond Queneau to play shortstop for the Yankees. For that matter, I don’t think Queneau could even DH for the Orioles.
Livingston goes to the trouble of working through the implications of Becker’s unexamined thoughts.
The real question for a sociologist to ask, though, is how is it that anyone would think that Becker would know anything economics in the real world. His article was published in the Wall Street Journal; why didn’t they get a real expert like John Yoo?