Wednesday, March 11, 2009

Blame Game II

Harvard's Dani Rodrik seems to agree in spirit with my gentle critique of the economics profession and the role it played in the political economy of the crisis:

I like - and agree with - the distinction he makes between economics and economists. Even for an outsider such as myself, it is apparent that there is a great deal more to economics than the "free markets rule, down with regulation!" caricature. What's sad is that many economists have been happy to promote that caricature and provide intellectual support for what the regulatory errors that got us to where we are.

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