From my hometown newspaper concerning winners and losers from the crisis:
"(Economics is a) science that has disappeared up a mathematical dead end, couldn’t see the crisis coming, couldn’t explain it to anyone once it broke, and couldn’t come up with a way forward after it happened."
"It will be a long time before economists are listened to again."
Sounds like we have a credibility problem with the general public.........
The full article is available here.
Subscribe to:
Post Comments (Atom)
2 comments:
Once a historian predicts the next crisis, I am switching professions. However, for the time being I will stay comforted by what Giles Saint Paul has to say about the issue.
http://www.voxeu.org/index.php?q=node/3996
the debate is kinda getting more precise, expecially with the contributions of
Kocherlakota and Justin Wolfers ...
I guess some economists saw the crisis coming (Rajan, Roubini, Shiller), all economists could explain it (even Esther Duflo, evne though this is not her field at all), and most economists agreed with fiscal stimulus as a way forward...
but still, most economists are stupid, and waht gets published is meaningless...
Post a Comment