Jun 14, 2009

Krugman quotes

"Most work in macroeconomics in the past 30 years has been useless at best and harmful at worst"

"The big lesson from past bubbles is that recovery is export-led, which is not helpful unless we can find another planet to export to”

Well, we may not have a planet to export to but at least the economic theory for it is ready.

The quotes are from this article.


Laura Z said...

I like the end of the abstract " two useless but true theorems are proved"

Cam said...
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