Paradigm lost
Economists missed the brewing crisis. Now many are asking: How can we do better?
THE DEEPENING ECONOMIC downturn has been hard on a lot of people, but it has been hard in a particular way for economists. For most of us, pain and apprehension have been mixed with a sense of grim amazement at the complexity of what has unfolded: the dense, invisible lattice connecting house prices to insurance companies to job losses to ... (Full article: 2254 words)
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