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Cyan comments on Folk theories can be useful even when they're entirely wrong - Less Wrong Discussion
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I'd be interested in a LW or Discussion post by you on this topic.
I've actually had this idea for a while, but I can rarely bring myself to find enough time for a proper article rather than just writing short comments. Thanks for expressing your interest - it has certainly given me additional motivation.
In the meantime, if you haven't seen them already, you can find discussions where I question some established wisdom in economics here and here.
just saw this point repeated 10 minutes ago.
on Tabbarok[http://marginalrevolution.com/marginalrevolution/2011/03/privatize-the-spectrum.html] saying
"But even if consumer prices did rise the merger is probably still a good idea. It’s long been known that even small cost savings can outweigh losses to consumers from a price increase"
to which Tomasz Wegrzanowski replied: Williamson trade-off model is exactly why people hate economists.
Not once in history of the universe has there been anything benefiting the rich and powerful, for which some economists didn’t make a model showing it’s really in everybody’s best interest.
Cost savings are bullshit, price increases are real.