Tuesday, September 15, 2009

How did economists get it wrong?

Well, first you have to accept the premise of the title, but assuming that you do (and even if you don't), Paul Krugman has a lengthy article on the evolution of macroeconomics and how it relates to the current situation. I don't know whether I buy it all, but I'm not a macro-economist and I don't have a Nobel prize.

HT: My friend Bill.