First I read this short report that furthered my sad perspective that economists are generally perceived as as useful as weathermen.
Justin Wolfers, "On the Failure of Macroeconomists"
Then I saw the below quote by Niall Ferguson.
"The prevailing Davos pessimism had been brilliantly summed up by Niall Ferguson... He called what we are going through not a Great Depression but a "Great Repression." ..."Our leaders," he said, "are in a state of denial, turning to a 1936 book [Keynes' The General Theory of Employment, Interest and Money] to save us.""
Are ideologies to blame for the apparent lack of any objective advice to offer upon the matters of the day?
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2 comments:
krugman commented on that wolfers
piece:
http://krugman.blogs.nytimes.com/2009/01/28/fiscal-policy-formalities-wonkish/
yes, if you look hard enough you can find a lot reasonable criticisms of macro and epidemiology. they both have flaws, but they are both very important and valid fields. stop listening to stupid wolfers.
how bout some blog updates, slacka?
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