Bayerische Motoren Werke AG, the world’s top manufacturer of luxury cars, reported its biggest profit in 2 1/2 years after demand for the new 5 Series surged and sales advanced in China and the U.S.
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Comment: Bad economists like Krugman and Bernanke see the world exclusively in terms of statistical aggregates. They believe that it is "aggregate demand" which moves the world, while in fact the world is moved by entrepreneurial action, by the tinkerer, by the small businessman, whose outcomes are judged and thereby promoted or rejected by the billions of individual consumers around the globe who decide what to buy and what not to buy.
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