The inconsistencies between Clausing 1.0 and Clausing 2.0 are indicative of an economics profession that has eschewed its own humble insights.
Nikolai G. Wenzel
Munger’s framework leaves us with hope grounded in realism.
Dr. Nikolai G. Wenzel is Distinguished Professor of Economics and L.V. Hackley Chair for the Study of Capitalism and Free Enterprise at Fayetteville State University. He teaches for the Asia Institute for Political Economy, sponsored by the Fund for American Studies at Hong Kong University.