04 September 2009
On The Failure of Modern Economics
Krugman, on the failure of modern efficient market economics.
His basic thesis is that the belief in the infallible markets, which has been dashed repeatedly over the past 200 years, came back, and when juxtaposed with beautiful mathematics that were unfortunately completely disjoint from reality, we got our current situation.
Go read.
His basic thesis is that the belief in the infallible markets, which has been dashed repeatedly over the past 200 years, came back, and when juxtaposed with beautiful mathematics that were unfortunately completely disjoint from reality, we got our current situation.
Go read.
Labels:
Academe
,
Economy
,
Good Writing
,
Philosophy
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