Another joseph stiglitz article, which identifies five key mistakes that led to the current crisis-under Reagan, Clinton, and Bush II—and one national delusion.
No. 1: Firing the Chairman under the Reagan administration
No. 2: Tearing Down the Walls
No. 3: Applying the Leeches
No. 4: Faking the Numbers
No. 5: Letting It Bleed
It will give you another perspective for the current economic situation. If you were in Prof. Simon's monetary and fical policy this semester, this is a best summary of what we've learned in the class! Highly encouraged to read guys.
2 comments:
this is an interesting article. the section about faking the numbers is just scary.
wow. that article is scary, faking the numbers seems to be a controversial issue, but why is that considered ok?!! Clearly not everyone is fooled.
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