The American Economic Association recently held their annual conference in Denver. David Warsh reports that members were working on a variety of thorny issues, like what caused the economic crisis, how to prevent future crises, and even what to name the current crisis. No solutions are yet available. On a promising note, he reports that there appeared to be some interest in reviving the study of the history of economic thought. Over the last 30 years, as math has come to dominate graduate economic education, the study of the history of economic thought has systematically been removed from the curriculum. Is this renewed interest in the history of economic thought a promising new trend or a mere blip in the data?
Source link: http://archive.mises.org/15302/aea-we-are-working-on-that/
AEA “We are working on that”
Previous post: What We Can Learn from the Soviet Failure
Next post: N. Y. Judges want to wear the union label
{ 5 comments }
“… like what caused the economic crisis, how to prevent future crises, …”
Tune in tomorrow for today’s weather.
Maybe some savior econometrician can work out a new equation that will explain it. I’m sure if they add a little more B and a bit more S they will find something to sell to one another! Alas, we are saved!
http://online.wsj.com/article/SB10001424052702303891804575576523458637864.html
It’s already been done! Be sure to check out the equation somewhere along the middle (left) of the article.
David Warsh reports that members were working on a variety of thorny issues, like what caused the economic crisis, how to prevent future crises, and even what to name the current crisis. No solutions are yet available.
Like what caused the economic crisis? The Fed and other socialist measures.
How to prevent future crises? Do away with socialism.
What to name the current crisis? The Second Great Depression.
There. The AEA can cancel their meeting.
Easier said than done! First of all the ‘economist’ will have to be independent enough to dare to make the distinction between history and propaganda. Second, the atheisitic, value-free ‘economist’ will have to recognize the contributions made by persons with religious convictions who fervently pursued their quest to understand ethics and justice and economics.
It appears that the Mises Institute is at least a century ahead of this small-brained dinosaur.
Comments on this entry are closed.