From Simplicity and Complexity, Santa Fe Institute
Paul Krugman takes on “the economists” in Sunday’s Magazine piece, “How Economists Got It So Wrong”:
“Few economists saw our current crisis coming, but this predictive failure was the least of the field’s problems. More important was the profession’s blindness to the very possibility of catastrophic failures in a market economy.”
However, some of his criticisms might apply a bit more broadly. For example:
“Mistaking Beauty for Truth”
Go to http://blog.santafe.edu/?p=150 for discussion of this post.