D.Klein.when naomi's not available.

[mattd]

Hayek suggests that economic reasoning is likely to lead to conclusions in 
conflict with universal human instincts and simplistic visions of a happy 
society. Indeed, we see in this address from 1944 the kernel of ideas that 
Hayek developed over the subsequent four decades, ideas about the tension 
between the values of traditional society and the desirable rules for 
modern society. Hayek (p. 47) cautions his young-economist auditors that in 
economics "the ruthless pursuit of an argument will lead you almost 
certainly into isolation and unpopularity." The economist "must not look 
for public approval or sympathy for his efforts."
Hutt's counsel is equally dispiriting. He says that the 
libertarian-oriented economist must "be aware of a periodic recurrence of a 
sense of utter helplessness":
On all sides he thinks he sees the survival of ignorance and confusion of 
thought on matters which affect human welfare; and he feels that nothing 
that it is within his power to do or say can have the slightest effect in 
checking the accumulation of wrong ideas and false policies which they 
bring forth. He recognizes that in spheres in which policy and ...action 
can be influenced, he is doomed to virtual dumbness to-day. He does not 
attempt the impossible. He seldom protests, for experience and history have 
taught him that protests are without avail and merely damaging to his 
reputation. He realizes that persistent opposition to the popular illusions 
of his time will simply bring him the notoriety of a crank . . . (Hutt, p. 34).
Yup.
The sense of frustration and despair is greatest for those economists who 
take part in public discourse. One of Hutt's section headings reads: "It is 
as a critic of actual affairs that the economist is most aware of his 
ineffectiveness." Although statist thinking has, in recent decades, not 
continued to advance the way it did when Hutt wrote, and although Milton 
Friedman has had no apparent difficulty in remaining cheerful in his 
conversation with the public, the fundamental problems described by Hutt 
and Hayek remain highly pertinent to libertarian economists today
Klein in aug 2000.end paragraph...Economists ought to think harder about 
the economics of Economics.

Mmm,should reporters think harder about the reporting of reporting?

   Daniel B. Klein (dklein at scu.edu) is associate professor of economics at 
Santa Clara University. He is editor of What Do Economists Contribute?, 
recently published by New York University Press and the Cato Institute. From
Economists' Misplaced Faith in an Invisible Hand (reporter declan keeps 
faith with own hand.)
He has written for such "Everyman" policy organizations as Brookings, Cato, 
Reason, Institute of Economic Affairs, Independent Institute, and the 
Foundation for Economic Education. His email address is 
dklein at scu.edu.About Santa Clara
Santa Clara University is a private, Jesuit university.
Many valley residents will never forget the catastrophic flooding which 
ravaged parts of Santa Clara County during the El Nino storms of the early 
1980s. The severity of the damage encouraged voters to pass a 1986 ballot 
measure creating a flood benefit assessment to fund an accelerated flood 
protection construction program. Since then the district has worked 
diligently toward achieving the maximum amount of flood protection for 
valley residents its budget would allow. The average homeowner in Santa 
Clara County is assessed between $17 and $59 a year, and the average 
business between $139 and $474 a year. In addition to those funds, during 
the past 20 years the water district has successfully pursued and secured 
more than $200 million in state and federal money for local flood 
protection efforts. As a result, flood protection projects have removed the 
danger of flooding from thousands of homes and businesses
However, a revenue shortfall of nearly 40% remains an obstacle to full 
implementation of these crucial programs. The board is soliciting input 
from the public on support for future funding mechanisms to ensure seamless 
program implementation in 2001.
Hopefully the next flood will take all jesuit 
academics,libertarians,anarcho-crapitalists and phoney reporters far,far 
out to shark infested and stormy seas.