Market Power

Musings by an academic economist on the power of markets and the power over markets.

Friday, April 08, 2005

Deep Doo Doo

Lawrence Summers is in deep shit at Harvard. He's not the only Harvard economist up to his eyeballs in poo. From the Chronicle of Higher Education (paid subscription required):

Martin L. Weitzman has a Ph.D. in economics, tenure at Harvard University, and an endowed chair, but what he really wanted was a truckload of free manure.

A police officer in Rockport, Mass., said on Wednesday that Mr. Weitzman was arrested and charged with trespassing, larceny under $250, and malicious destruction of property for attempting to steal manure last Friday from a horse farm in Rockport, 30 miles northeast of Boston.

According to the Associated Press, Phillip Casey, the stable manager at the farm of Charles Lane, found the economist on the property on Friday and blocked the professor's pickup truck before telephoning the police.

I have one question. Why would Weitzman go out and find his own shit? Isn't that what graduate assistants are for - going out and finding shit so the faculty member can work with the shit and find other shit for the grad assistant to go out and get?