Archive for July 30th, 2015

Why Second-best Macroeconomics is usually adopted?

July 30, 2015

It has been a while since this blog pointed to some writing by prof. Krugman.

Here is a nice one on Second-best Macroeconomics:



Greece, Goldman Sachs, and the dark side of international finance

July 30, 2015

Nice interview of Prof. Alexander Arapoglou of Kenan-Flagler Business School. He has worked as a financial trader and knows a thing about these games.

He points to how Greece fudged its accounts while entering Euro in 2001. Needless to say who advised the govt on the deal:


Why economists have trouble with bubbles?

July 30, 2015

This is because bubbles and their bursting exposes all the hyped expectations and notions set by economists. Actually bubble is not really a proper word. It is just a reversal of economic cycle and is a pretty normal phenomenon. Just that econs think that their ideas and policies can conquer these cycles only to be humbled.

Noah Smith has a piece on the bubble trouble. He says much of the negation of bubble idea came from rational expectations revolution which has been humbled in the 2008 crisis.

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