Friday, April 17, 2009
predicting the global economic crisis
Ritchie
Apr 18, 2009 5:49 AM GMT Consider looking at the few economists who did see this coming, and asking how they think the problem can be solved. I suspect it was not a question of forgetting the Depression, but it was in their best personal economic interests to continue saying everything was fine--maybe just a tiny recession--but then things will improve again. Or, as Upton Sinclair once said: It is difficult to get a man to understand something when his salary depends on his not understanding it.
What Good Are Economists Anyway? BusinessWeek, April 16, 2009
Apr 18, 2009 5:49 AM GMT Consider looking at the few economists who did see this coming, and asking how they think the problem can be solved. I suspect it was not a question of forgetting the Depression, but it was in their best personal economic interests to continue saying everything was fine--maybe just a tiny recession--but then things will improve again. Or, as Upton Sinclair once said: It is difficult to get a man to understand something when his salary depends on his not understanding it.
What Good Are Economists Anyway? BusinessWeek, April 16, 2009
# posted by ADL : 10:40 PM
Subscribe to Posts [Atom]