Wednesday, September 9, 2009

How Did Economists Get It Wrong?

From the ‘Magazine’ section of the New York Times:

How Did Economists Get It So Wrong?

By PAUL KRUGMAN

September 6, 2009

I. MISTAKING BEAUTY FOR TRUTH

It’s hard to believe now, but not long ago economists were congratulating themselves over the success of their field. Those successes — or so they believed — were both theoretical and practical, leading to a golden era for the profession. On the theoreticalSource: Sweetness Light RSS Feed

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