Guy Sorman writes this hugely debatable article in city journal.
Most of us know the differences in ideology between Keynes and Schumpeter during crisis. First asks for government intervention to increase demand. Second suggests market forces to take over and let the new take over the old..
What is interesting is to see Romney being pitted as Schumpeter:
Keeping this super lecture aside, here is a nice speech by Patrick Honohan, Governor of the Central Bank of Ireland.
He says though, mon pol is all about transparency these days, surprise elements still play their role esp in crisis situations:
Such write-ups make for such a fascinating read.
Gabriel Rossman – Sociologist at UCLA– in this super piece tells us how economics can help understand a piracy situtation:
