Squilliam said:
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It wasn't meant as an arguement against his qualifications... just a statement that "basic 101" knowledge, means nothing.
I myself haven't been in a graduate program. Though I've taking graduate level programs and know a lot of graduates.
Heck, if you take a deep enough program in bachelors they usually tell you to disregard 101.
The majority of what you learn is pointless because all it is the broad strokes.
The majority of economists don't think the way Manus is saying they do, partially because they don't pay any attention to Econ 101.
I mean, in the case of private roads... it's not like they still don't exist today.
http://en.wikipedia.org/wiki/Private_road_association
They work quite fine. It's just not the kind of thing I'd care to deal with personally.