2011-03-23

Haute cuisine



IMF har haft konferens, det lär vara trevliga tillställningar med förstklassigt krubb och utsökt dricka med och utan bubblor. Ekonomer kräva detta för att kunna tänka klart.

Macro and Growth Policies in the Wake of the Crisis

Även avfällingen Stiglitz hade inbjudits. Ett bevis på hur man kan förnya på dessa trevliga tillställningar om än det nog inte blir så mycket förnyelse i det dagliga slitet med att strukturanpassa folket runt om i världen. Nu när man slagit sig in på den europeiska marknaden och kan sprida sina irrläror lär de ha fullt upp.

Stiglitz:
The most remarkable aspect of the recent conference at the IMF was the broad consensus that the macroeconomic models that had been relied upon in the past and had informed major aspects of monetary and macro-policy had failed. They failed to predict the crisis; standard models even said bubbles couldn’t exist—markets were efficient. Even after the bubble broke, they said the effects would be contained. Even after it was clear that the effects were not “contained,” they provided limited guidance on how the economy should respond."
Stiglitz:
The fact that countries with central banks that were not independent performed so much better than some of those that were—partly because the latter were “cognitively captured” by the financial markets that they were supposed to regulate—should perhaps lead to rethinking of doctrines concerning central bank independence.


0 comments:

Skicka en kommentar

Tillåtna HTML taggar: <b>, <i>, <a>