Given how important the role of politics is emerging in this crisis, we might again see economics depts being renamed as department of political economy (this blog also hopes this happens).
Some economists have criticised how governments have led to the crisis (John Taylor), others have argued how governments have been too meek to resolve the crisis (Paul Krugman) and some more have argued how lesser government is way out of the crisis (Alberto Alesina).
Atif Mian, Amir Sufi & Francesco Trebbi add another dimension to the issue of crisis and govt. In this paper they say political ideology changes post a crisis which leads governments to make policies which may not be as desired. Voxeu has a summary:
