How Did Economists Get It So Wrong?

New York Times by Paul Krugman | Sep. 4, 2009 (Special Report)

The Great Recession was the result not only of lax regulation in Washington and reckless risk-taking on Wall Street but also of faulty theorizing in academia. Can economists learn from their mistakes? Full Story »

Posted by Kaizar Campwala - via Jay Rosen, Hiroko Tabuchi, OneRiot, Publish2 (Politics), Publish2 (Business), Tip'd, NewsRack (Recession), New York Times (Most Emailed)

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4.1

by Naomi Isler - Sep. 4, 2009

It's a well thought out piece on economic theory and theorists, probably of more interest to economists than 'lay people'. Lurking in the unstated background is the question of who presidents and other policy makers listen to, and why.

Isn't economics 'the dismal science"??