Global Financial System Still Not Fixed
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/A decade after the opacity driven Great Financial Crisis began, the only significant theoretical insight into opacity has been the Information Matrix... Read More
Economics Still Needs to Come up with THE Big New Idea
A decade after the acute phase of the Great Financial Crisis and economists are still arguing amongst themselves whether there is any... Read More
Macro Economists and Unwarranted Over-Confidence
Since the acute phase of the Great Financial Crisis erupted, we have been treated to macro economists confidently putting forth their policy... Read More
Bernanke and the Information Matrix
In an excerpt from his book on how he saved the global financial system, Ben Bernanke observed in talking about the opaque... Read More
Robert Bruner: Missing Financial Crisis Lesson
University of Virginia’s Darden School of Business Professor Robert Bruner offered up his insights into the lessons we did not learn in... Read More
Economists and Credentialism
On his Grumpy Economist blog, John Cochrane wrote an interesting post on Economists as Public Intellectuals. What caught my attention in his... Read More
Economists and Their Inability to Say They Don’t Know
Why do Economists, particularly macro-economists, have such a difficult time saying “I don’t know” rather than confidently offering an ill-informed opinion? Consider... Read More
Upton Sinclair was Right About MacroEconomists
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A decade after the beginning of the global financial crisis, I have come to realize the inability of macroeconomists to understand the... Read More
Gary Gorton and the Panic of 2007
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As I was reading Professor Gorton’s article for the 2008 Jackson Hole conference, I realized it confirms everything I have said about... Read More
Is Transparency Too Complex for Economists to Understand?
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Over the last couple of decades, it has become increasingly apparent to me the concept of transparency is too complex for Economists.... Read More
Economists Struggle with Facts versus Model Assumptions?
Do Economists actually have any idea of what is a fact in the real world versus what is an assumption in one... Read More
Office of Financial Research: Doesn’t Even Work in Theory
Since it was created as part of the 2010 Dodd-Frank Act, the Office of Financial Research has shown why it shouldn’t exist... Read More
Economists Unnecessarily Complicate Bail-in/Bail-out Discussion
A decade after the start of the financial crisis you would hope the Economics profession would have a good grasp on why... Read More
Did Econ Nobel Winners Make Crisis Worse?
Regular readers know that financial crises take place in the Blind Betting quadrant of the Information Matrix. Information Matrix ... Read More
Central Bankers as Defenders of Opacity
At the launch of a book which concluded the loss of trust in Economists and Bankers is permanent, the Bank of England’s... Read More