Ed Prescott unleashed

Ed Prescott is a Nobel Prize winner in economics...his famous theory, which is called "Real Business Cycle Theory," basically states that booms and busts are caused by exogenous changes in technology.

Prescott is also known to be politically conservative. That's why I can actually bring myself to believe that this email exchange (courtesy of Ezra Klein) is real.

Some choice quotes:

"Army Core of Engineers"
"With people like you I understand why Ruyssians can not governed themselves."
"Scientist collusions follow from their assumptions."
"Are you Russians goiung to getogether with the Germans again and split up Poland again? You invade Georgia."

and the best:

"In economics there is almost always one theory or no theory. You and your think a likes destroyed Russia and now are destroying the United States. Society needs religion to get around the time inconsistency problem. Your religion of Statism is a not a good religion. It is detrimental to the welfare of the people. A basic tenet of my religion is free to choose and to enter into mutually beneficial contracts."

WTF? Time to stop drunk-texting, Ed. Or maybe get a phone with one of those physical keyboards...