06-24-2009, 06:08 AM
Quote:So, in short, what's your point?Well, as you alluded to before, it seems that to Krugman the "dismal science" is like eviscerating livestock to read the entrails. Again, Krugman says, "That house prices had risen too far was obvious, even if policymakers had seemed less sure. The surprise was that the bursting of the bubble would be so damaging. âI had no idea it would end so badly,â said Mr Krugman.
My point would be that either economics is useless, or at least Mr. Krugman seems to be as he appears to be like most so-called economists who excel in their ability to explain what has already gone wrong.