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 OneRiot, Jay Rosen, Hiroko Tabuchi, Tip'd, Publish2 (Business), New York Times (Most Emailed), Publish2 (Politics), NewsRack (Recession)

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by Emma Asomba - Sep. 7, 2009

“Brad DeLong of the University of California, Berkeley, writes of the “intellectual collapse” of the Chicago School, and I myself have written that comments from Chicago economists are the product of a Dark Age of macroeconomics in which hard-won knowledge has been forgotten”.