Saturday, January 21, 2012
Mohamed El-Arian - the chief executive of a major global investment firm, PIMCO - asks some serious questions about the capitalist system itself, HERE @ Financial Times: "four years into the crisis, little has been done to repair the damage coherently and comprehensively and to safeguard the real victims, let alone counter the risk of further costly dislocations."
Economist Robert Johnson suggests some ways to salvage the reputation and relevance of his profession in the wake of multiple economic crises and an increasing sense that the "experts" have been either bought off or are clueless:
These are problems that some within economics have been aware of for a long time, but the discipline as a whole has been unable to address them. The onus is on the profession to face these challenges and help lead society off the rocks.
How to Save Economics