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  • Report looks at captured nature of BC’s Oil and Gas Commission August 6, 2019
    From an early stage, BC’s Oil and Gas Commission bore the hallmarks of a captured regulator. The very industry that the Commission was formed to regulate had a significant hand in its creation and, too often, the interests of the industry it regulates take precedence over the public interest. This report looks at the evolution […]
    Canadian Centre for Policy Alternatives
  • Correcting the Record July 26, 2019
    Earlier this week Kris Sims and Franco Terrazzano of the Canadian Taxpayers Federation wrote an opinion piece that was published in the Calgary Sun, Edmonton Sun, Winnipeg Sun, Ottawa Sun and Toronto Sun. The opinion piece makes several false claims and connections regarding the Corporate Mapping Project (CMP), which we would like to correct. The […]
    Canadian Centre for Policy Alternatives
  • Rental Wage in Canada July 18, 2019
    Our new report maps rental affordability in neighbourhoods across Canada by calculating the “rental wage,” which is the hourly wage needed to afford an average apartment without spending more than 30% of one’s earnings.  Across all of Canada, the average wage needed to afford a two-bedroom apartment is $22.40/h, or $20.20/h for an average one […]
    Canadian Centre for Policy Alternatives
  • Towards Justice: Tackling Indigenous Child Poverty in Canada July 9, 2019
    CCPA senior economist David Macdonald co-authored a new report, Towards Justice: Tackling Indigenous Child Poverty in Canada­—released by Upstream Institute in partnership with the Assembly of First Nations (AFN) and the Canadian Centre for Policy Alternatives (CCPA)—tracks child poverty rates using Census 2006, the 2011 National Household Survey and Census 2016. The report is available for […]
    Canadian Centre for Policy Alternatives
  • Fossil-Power Top 50 launched July 3, 2019
    What do Suncor, Encana, the Royal Bank of Canada, the Fraser Institute and 46 other companies and organizations have in common? They are among the entities that make up the most influential fossil fuel industry players in Canada. Today, the Corporate Mapping Project (CMP) is drawing attention to these powerful corporations and organizations with the […]
    Canadian Centre for Policy Alternatives
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The Progressive Economics Forum

LBJ on Economics

“Making a speech on economics is a lot like pissing down your leg. It may seem hot to you,but it never does to anyone else.” Cited in Robert A. Caro, Master of the Senate: The Years of Lyndon Johnson (2012)

Enjoy and share:

Comments

Comment from Paul Tulloch
Time: July 30, 2012, 7:53 pm

one may want to consider wearing shorts when making an economic speech, a bit more efficient- although I am sure they will be more puddling on stage so watch yourself when you leave the stage and what ever you do, do not touch the microphone unless you are wearing thick soled shoes.

Comment from Keith Newman
Time: July 31, 2012, 7:37 am

Hilarious quote Mel! LBJ sure had a way with words. And very true, sadly. There is something about economics that turns almost everyone’s mind off almost immediately. Probably because much of economics is non-intuitive. One of the few concepts that is powerfully intuitive, albeit erroneous and disabling, is the idea that the finances of the federal government are the same as household finance. So we wind up struggling to get minimal public services and infrastructure despite there being plenty of people and resources to provide far more.

Comment from Purple Library Guy
Time: July 31, 2012, 4:11 pm

Well, one concept I’ve always found powerfully intuitive is the idea that if one small group of people grabs everything, there is less left over for everybody else.
Much of contemporary economic discourse is dedicated to coming up with ways to claim that is in some way not the case; it’s no surprise the required sophistry is on the boring and non-intuitive side.

Comment from John W. Warock
Time: July 31, 2012, 8:11 pm

Mel: I heard you cite that quote years ago.

Comment from Paul Tulloch
Time: August 2, 2012, 2:41 pm

the reason for the warm waste disposal being an inconveniance, if the only solution that gets the light of day means chasing and successfully building a distopia of market deregulation, that rewards the few and prevents moving forward for the many, then the guy speaking should be lucky it is only piss running down his leg and not blood.

Economists are in a blood sport here, yet not many ever see the end results of their policy, but 5 years into this great decline, and well, for the first time in a long time, the questions are mounting and no functional answers can be found within the establishment. I seen David Harvey on Charlie Rose last week, so maybe, even the liberal democrats are getting nervous and they are showing the wealthy elites, just what they could help unleash on them if they do not start with a liberal solution. I guess for progressives iNCanada, given the middling of the new seemingly polarization of politics
in Canada, there is maybe a chance that a newly defined, mix of third Wayism and social democracy could catch on. Something is better than nothing.

Comment from Roy McPhail
Time: October 19, 2012, 12:05 am

As with forensic engineering, the more convoluted the theory needs to be to explain a failure, the less I trust the theory. The better one understands a phenomenon, the better one gets at reaching a wide audience and imparting this understanding. LBJ’s economists were well along on the Minsky Journey without any understanding of the implications for us.

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