It’s worth noting that noted economist and admired-by-yours-truly blogger John Quiggin responded to the previous blogpost. He is, of course, completely right that when someone whose analytical prowess you respect says something that seems abysmally dumb, you’re probably missing the point. Which, not to put too fine a point on it, was what I intended to express with my previous post, though I (perhaps unfortunately) leaned heavily on the “Snarkify” button in WordPress. (Bet you didn’t know about that feature.) I was hoping someone would point out what I’d missed, not expecting it would be John Quiggin himself. Alas, his comment didn’t clear it up for me. My response is after his in the original post.