It has been a while since this blog pointed to some writing by prof. Krugman.
Here is a nice one on Second-best Macroeconomics:
Archive for July 30th, 2015
Why Second-best Macroeconomics is usually adopted?
July 30, 2015Greece, Goldman Sachs, and the dark side of international finance
July 30, 2015Nice 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, 2015This 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.
