Labba-what the Economist saying about Root and Branch

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OVER the past decade economists have been intensely scrutinised for their intellectual failings in the run-up to the 2007-08 financial crisis. Yet had the recession that followed been more severe—wiping a quarter off the GDP of every advanced economy, say—those countries would still have ended up four times as rich per person, in purchasing-power terms, as developing countries are now, and more than ten times as rich as sub-Saharan ones. Robert Lucas, a Nobel prizewinning economist, once wrote that after you have started to think about the gap between poor and rich countries it is hard to think about anything else. Economists understand even less about economic growth than about business cycles. But the profession has done too little to address this failure or to understand its implications.

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Bhai,

from personal experience as a small business owner,I am still recovering from the 2007-08 financial crisis.I man still hanging on,sometimes feel to quit but me can't stay home.

Original Post

Bai why yuh huttin up meh head? Yuh know me is a dunce. Me send de article to Mr TK and he seh how de writing is uninformed and poor. That de writer doan know what he sayin. That many ecaminis bais know de crisis was coming. He seh look up Mr Dean Baker and Mr Raguram Rajan. He seh Mr Robert Lucas is voodoo macroeconomis . Hey hey hey. He seh if nat foh dem economis bai like Mr Ben Bernanke and dankey years of research abie would get anoda great depression after de crash in 2007. He seh if yuh hear bout operation twist and large scale asset purchase and some other mout twister me too dunce foh pronounce. Hey hey hey. He seh de writer gat to be stupidee because dem economis bai know a lot  bout growth and development, but not everything. He seh dem economis bai still gat nuff foh learn. He seh how article writer fail foh realise that economis get blame for politician action. He seh just like how all medical dactah na alike, de same foh dem economis bais. 

The article is on point in all important aspects

TK jumping on Lucas because he is a convenient foil . . . the piece barely mentions the man

and btw, Lucas supported operation twist, QE# whatever and all dem multi-zillion 'bailouts' needed to stabilize everything and provide liquidity after 2007

the meltdown was a shame and there is need for lil humility in the 'Economic Science' academic community, including Lucas, who led us down a garden path filled with thorns born of unacknowledged ignorance

except for the clowns afflicted with "Physics Envy" who feel that because they can fit a curve and do lil regression analysis, they can quantify everything 

ronan posted:

The article is on point in all important aspects

TK jumping on Lucas because he is a convenient foil . . . the piece barely mentions the man

and btw, Lucas supported operation twist, QE# whatever and all dem multi-zillion 'bailouts' needed to stabilize everything and provide liquidity after 2007

the meltdown was a shame and there is need for lil humility in the 'Economic Science' academic community, including Lucas, who led us down a garden path filled with thorns born of unacknowledged ignorance

except for the clowns afflicted with "Physics Envy" who feel that because they can fit a curve and do lil regression analysis, they can quantify everything 

hey hey hey.

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