Archive for September, 2010
Paul Krugman: The Third Depression – NYTimes.com
More classic Krugman:
“It is … the victory of an orthodoxy that has little to do with rational analysis, whose main tenet is that imposing suffering on other people is how you show leadership in tough times.”
via Op-Ed Columnist – The Third Depression – NYTimes.com.
How Did Economists Get It So Wrong? – NYTimes.com
How Did Economists Get It So Wrong? – NYTimes.com.
This article is long, but worth the read. It’s a year old, but prescient. Paul Krugman gives a lesson in how economists think and why they missed the boat in predicting the current recession. Fascinating. He quotes John Cochrane saying that high unemployment is good: “We should [...]
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