What went wrong with economics
And how the discipline should change to avoid the mistakes of the past.
The other-worldly philosophers
Although the crisis has exposed bitter divisions among economists, it could still be good for economics. Our first article looks at the turmoil among macroeconomists. Our second (see article) examines the foundations of financial economics
Efficiency and beyond
The efficient-markets hypothesis has underpinned many of the financial industry’s models for years. After the crash, what remains of it?
I find it truly dissapointing that The Economist completely ignores Austrian School of Economics. All of the articles are more or less concerned with the failure of modern economics to see the current crisis coming, however there is nothing about the predictions Austrians made years before.
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