Monday, April 6, 2009
Micro-blog: The crisis in economics, and in the global economy: A trio of readings
Here are a clutch of worthwhile readings. The first is a news story in the Boston Globe, discussing the current crisis in the economics profession, wrought by the crisis in the economy. The article is titled "Paradigm Lost". Now there's someone smart, punning on Milton and Thomas Kuhn in a two word phrase. Here is a link:
The next is an article in a similar vein, but focussed on the interesting question of whether economists are fixated excessively on the question of prediction. Here's the link:
The last is a weighty and sombre piece by the brilliant economist, philosopher, Nobel laureate, and generally wise personage, Amartya Sen, giving us his analysis of the current crisis in capitalism, going back to the history of the thing (which is always Adam Smith for us economists) and prognosticating broadly, all to good effect. Here's the link:
More on the above, when I've had a change to read and digest it. Alas, a stack of term papers beckons in the interim.