When it comes to the financial crisis Dani Rodrick, an economist at Harvard, said, “The problem wasn’t with the economics but with the economists.”
Rodrick’s quote appeared in the March 4th issue of the N.Y. Times, in a Patricia Cohen article titled, “Ivory Tower Unswayed by Crashing Economy.” An economic paradigm change in underway, but as usual, the established thought is resisting the change. Since new paradigms don’t occur over night, let’s hope the economy collapse in the meantime.
kenne
