April 2022

Sun Mon Tue Wed Thu Fri Sat
          1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30
Blog powered by Typepad

« This Sounds About Right --- Macro Policy is More or Less Determined by Politics Rather Than Ideas | Main | Towards a Better Understanding of Pirates --- required reading Mises and Hayek »

Comments

Feed You can follow this conversation by subscribing to the comment feed for this post.

Wow. Stiglitz writes that article like a monk who has lost his faith in God after seeing his brother struck down, and is searching desperately for some way to reconcile what he has always known with the events that have just taken place. Is it always so common for people in the economics profession to forget to take a step back from recessions and look at them from a long-term perspective as being a necessary (if painful) correction to the practices that caused an initial overabundance?

Kroenke said, "Is it always so common for people in the economics profession to forget to take a step back from recessions and look at them from a long-term perspective as being a necessary (if painful) correction to the practices that caused an initial overabundance?"

After any sort of general crisis, don't people always look for someone and something to blame? Why would economists be any different?

The comments to this entry are closed.

Our Books