Trivializing Their Inability to Predict a Financial Crisis
Clearly the Queen of England hit a nerve when she asked in 2008 why the economics profession had not seen the crisis... Read More
Paul Krugman and the Myth Economists Open to New Ideas
Despite their protests to the contrary, Economists and therefore Economics is not open to new ideas. Here is a classic example: @paulkrugman God... Read More
Economists Have No Sense of Shame
Since the acute phase of the Great Financial Crisis started, it has become clear Economists have no sense of shame. If they... Read More
Is the Economics We Have Better than Nothing?
A decade after the acute phase of the Great Financial Crisis it is time to ask “is the Economics we have better... Read More
PhD Economist Derp: Open to Criticism and New Ideas
Ten year after the start of the acute phase of the Great Financial Crisis and the Economics profession is still defensive about... Read More
Has Economics Failed? Yes! Part II
A decade has passed since the acute phase of the Great Financial Crisis began and the Economics profession has not produced a... Read More
Has Economics Failed? Yes!
The Financial Times asked two experts to address the question of “Has Economics Failed“. The real answer to this question is it... Read More
Figuring Out Where the Banks Fit In
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Tim Congdon, Chairman of the Institute of International Monetary Research, laid down the challenge for what the Economics profession needs to learn:... Read More
Minsky Moments and the Information Matrix
When the acute phase of the Great Financial Crisis hit in the fall of 2008, many Economists were quick to call it... Read More
Pathology, Prophylactics and Palliatives
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Prospect Magazine asked a number of PhD Economists and Economic commentators what is the one lesson they wish Economists would learn. Imagine... Read More
To Change Economics, Build a New Model
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“You never change things by fighting the existing reality. To change something, build a new model that makes the existing model obsolete.”... Read More
Financial Markets: Free versus Regulated
How many times have you heard the call for deregulation in the name of free markets? But does deregulation make any sense... Read More
PhD Economist Derp: We’re Experts in …
The famous adage “a little knowledge is a dangerous thing” applies to PhD Economists in spades. And nowhere is this more true... Read More
The Committee to Save the Banks – Part I: The Background
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The Committee to Save the Banks sat down for a lengthy, friendly interview for the tenth anniversary of the Great Financial Crisis. What the... Read More
The Committee to Save the Banks – Part II: Opacity and Bank Runs
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In Part II, I’ll show how the Committee to Save the Banks discussion of the panic, fear and bank runs of 2008... Read More