MikeW

Why Economists Messed Up

I suspect that economists didn't get it as wrong as it seems. Most likely, there were lots of them who know full well what was in store, like the knowledgable folks who began grooming the great Depressionologist Ben Bernanke to head the Fed years ahead of the inevitable. The trouble is that 95% of economists work for organizations with products, services, or ideologies to sell, and the selling of those is in conflict with the telling of economic truth, even if they're clever enough to know it.