Judge Posner -- not an economist but he plays one in the courtroom -- did admit error in a book after the crash in 2008. I credit him for that and then heap shame on him for his NYTimes' ridiculing -- rather than reviewing -- the Skidelskys' book on cutting working time. Posner felt that since the Brits didn't have central heating when he was in the UK, they needed to be working more.
Gene On Jun 28, 2013, at 1:56 PM, Jim Devine wrote: > Marv: >>> Really? Kocherlakota has been arguing for months now that the Fed target of >>> a 6.5% unemployment rate is too high. He wants the rate to drop to 5.5% >>> before the Fed tightens, and was among those who felt Bernanke's recent >>> "tapering" comments, which provoked an abrupt rise in interest rates, were >>> premature. > > Doug: >> Kocherlakota had a rare and amazing change of heart sometime last year. He >> dropped the job skills mismatch theory of unemployment and did a 180. How >> often does that happen? > > Just today, Krugman asked if there were any conservative economists > who have done this, coming up with no answer. > > PK: > And I’m trying, unsuccessfully, to think of a single prominent > conservative economist who has responded to the complete failure of > his predictions by changing his views....< > (from http://krugman.blogs.nytimes.com/2013/06/28/three-unsayable-words/ ) > > -- > Jim Devine / "Reality is that which, when you stop believing in it, > doesn't go away." -- Philip K. Dick > _______________________________________________ > pen-l mailing list > [email protected] > https://lists.csuchico.edu/mailman/listinfo/pen-l _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
