Off with their heads! Economists apologise to the Queen“Dear Your Majesty…” A group of British economists have written to the Queen explaining why they failed to foresee the coming Global Economic Crisis and predict the length and severity of the recession.
Economists
Joseph Stiglitz: America’s most important ignored economist
Joseph Stiglitz has long been hellbent on proving that free markets do not provide the best economic outcomes. He predicted the GFC; overseas they love him. So why does Washington snub him?
How the media trash important stories when their rivals scoop them
News Ltd’s handling of the six economists’ call for a new inquiry into the financial system was revealing.
Konichiwa, Krugman
Daniel Gross thinks he’s found economist Paul Krugman’s doppelganger: in Norika Hama, the purple-haired, patent-leather-pumps-wearing Japanese professor.
Back the debt truck up — we need big ideas like the People’s Bank
Some of our best economic thinkers from across the ideological spectrum have penned an open letter urging a comprehensive review of the Australian financial system. About time!
A bank is a bank is a bank
Beware of economists bearing ideas, especially when they start talking about “People’s Banks” because there ain’t no such thing, even in New Zealand.
Economists’ letter: perfect time for financial system inquiry
A group of economists (John Quiggin included) have called for a look at Australia’s “ageing regulatory architecture and the inadequately defined role of government in dealing with such crises.”
Why Australia’s economists are wrong about the stimulus
Should it turn out that the stimulus packages have been quack remedies, writes Steven Kates, we are soon going to know. Economists don’t need to write a letter about it.
The media’s love affair with celebrity economists
Being rich and successful doesn’t prevent anyone from being wrong. Then why are we still listening to high-profile financial gurus, like Warren Buffett?
The “bank-shaped” recovery to come
As economists work themselves into a lather over “green shoots” and “black swans”, pundit-of-the-hour Gillian Tett has pointed to something eminently more believable.
Crikey Says: He who GDP speculates is lost
The sawtooth nature of recent economic data continues…
Who regulates the regulators?
Financial crisis happen, says Harvard’s Niall Ferguson, but people need to stop blaming the current one on de-regulation.
Economists: what are they good for?
They didn’t see the GFC coming, they don’t know when it will bottom out, and they don’t know when growth will return and at what rate — why do we have economists again? asks Terence Corcoran.
Economists still relevant, apparently
Economists mostly failed to predict the worst economic crisis since the 1930s. Now they can’t agree how to solve it. People are starting to wonder: What good are economists anyway?
Political snippets: A word on so-called economic experts
Their views have become the staple diet of news services. On the hour, every hour we are treated to economic expert A from financial institution X, followed later in the day by Mr or Ms B from bank Y.
