Economics, Literature and Scepticism

Powered by Blogger.

About Me

My photo
I am a PhD student in Economics. I am originally from South Africa and plan to return there after my PhD. I completed my M. Comm in Economics and my MA In Creative Writing (Poetry) at the University of Cape Town, where I worked as a lecturer before starting my PhD.

Tuesday, November 04, 2008

Links & Brief comment

Posted by Simon Halliday | Tuesday, November 04, 2008 | Category: |

Cutler & Delong - Obama can Cure Health Care's Ills
Robert Frank - Wealth Gap is Focus Even as it Shrinks
Brad DeLong - Stocks and the Long Run
Robert Shiller - Changing the Crowd in Whispers, Not Shouts

James Galbraith - Interview with NYT
Stan Collender - Response to Galbraith

I respect Galbraith and many of the predictions that he made, as well as the points that he makes regularly on economic policy and government, are relevant. Many of his points are, in my view, wrong.  However, when he comments on the '15 000 economists' who did not see the crisis coming, I agree with Stan Collender - not all of us are financial macroeconomists.  I am basically a behavioral microeconomist with additional interests in economic history & thought, and applied development.  None of this has anything to do with the financial crisis. For example blaming, say, Steve Levitt for not predicting the financial crisis would be silly as that is not where his specialty lies.  Whereas Robert Shiller, with a specialty in housing and agent irrationality, saw the crisis coming from a mile away and made his thoughts known.  People ignored him, Ariel Roubini and others. Oh well... here we are.

Currently have 0 comments: