Well, I just got into a debate with a professor about it... And this was no right-wing professor, it's a guy who's definitely a democrat. I've noticed there are quite a few Dem-leaning economists who nevertheless feel a need to buy into a certain amount of right-wing propaganda to show the world that they are serious-minded economists...
The commenter Ssendam asked "who's sayin' this?"
Here's the 2nd dumbest paper title of all time: http://papers.ssrn.com/sol3/papers.cfm?abstract_id=557061 "Was there a Nasdaq Bubble in the 90s?"
2nd dumbest, b/c the dumbest paper title of all time was Ben Bernanke's "Is growth endogenous?" Comically stupid b/c, of course growth is endogenous. How much any particular endogenous growth model has to say about reality is another matter...
You can also find arguments that there was no bubble in the 1920s, and that tulip prices in the Netherlands in the 1500s merely reflected fundamentals, and that the recent housing bubble wasn't a bubble t'all...
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I hate Larry Summers and Tim Geithner.
ReplyDeleteFed Chairman Bernanke is a one-note pony, “give my friends on Wall Street more taxpayer money and it will be alright.” Baloney, doing over-and-over-again what isn’t working and expecting a different result is the height of irresponsibility. When are we going to get rid of this loser Bernanke and his crony friends, i.e., Geithner and Summers. President Obama, you are being played.
ReplyDeleteI've got to say, I love the title and I stand for the sentiment behind it. Well done!
ReplyDeleteConservative economics is a fraud. The spectacle of Robert Barro telling us that stock market crashes are in fact quite bad in today's WSJ is asinine. Greg Mankiw is also a brave pioneer in intellectual dishonesty, disingenuously attacking policies without saying that he actually thinks they won't work.
ReplyDeletefor more: http://hedgedbet.blogspot.com/2009/03/robert-barro-stock-market-crashes-are.html