Thursday, April 30, 2009

Great minds think alike…

…in that they think the other guy is an idiot…

The mood now is uglier. On the left, Krugman says: "This is really fairly shameful, that we should be wasting precious months as a profession retracing debates that were settled 70 years ago." On the right, John H. Cochrane of the University of Chicago dismisses those who advocate Keynesian stimulus, saying: "Professional economists, the guys I hang out with, are not reverting to ancient Keynesianism any more than physicists are going back to Aristotle when they can't understand how fast the universe is expanding."

From businessweek – an otherwise not very impressive essay that all the same has a couple of minor bits of interst.

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