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.

0 comments :

Post a Comment