"[...]Mr Krugman, who gave the Robbins lectures 21 years ago, tried to answer two big questions in the course of his three talks.
Why did economists not foresee calamity?
And how will the world economy climb out of recession?
The immediate cause of the crisis, “the mother of all global housing bubbles”, was spotted by many economists. 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. “I had no idea it would end so badly,” said Mr Krugman."
- continuar a ler (é uma pequena, mas boa síntese) em: Paul Krugman's London lectures: Dismal science The Economist PS: Têm aqui a entrevista de Will Hutton a Krugman: Paul Krugman's fear for lost decade Business The Observer. Muito interessante. The Observer introduz a entrevista assim: As analysts and media hailed the tentative emergence of green shoots last week, Nobel Prize-winning economist Paul Krugman caused international shock with a prediction that the world economy would stagnate just as badly, and for just as long, as Japan's did in the 1990s. In an exclusive interview, he talks to Will Hutton about his anxiety for the future - and how Gordon Brown might have saved Britain from the blight that hangs over the West.
The immediate cause of the crisis, “the mother of all global housing bubbles”, was spotted by many economists. 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. “I had no idea it would end so badly,” said Mr Krugman."
- continuar a ler (é uma pequena, mas boa síntese) em: Paul Krugman's London lectures: Dismal science The Economist PS: Têm aqui a entrevista de Will Hutton a Krugman: Paul Krugman's fear for lost decade Business The Observer. Muito interessante. The Observer introduz a entrevista assim: As analysts and media hailed the tentative emergence of green shoots last week, Nobel Prize-winning economist Paul Krugman caused international shock with a prediction that the world economy would stagnate just as badly, and for just as long, as Japan's did in the 1990s. In an exclusive interview, he talks to Will Hutton about his anxiety for the future - and how Gordon Brown might have saved Britain from the blight that hangs over the West.
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