Viva la RestorationMy comments on this news:Casual students of economics probably hate the subject and rightly so. Academic economics was corrupted by Keyensism and then the futile effort to make it into a quantitative science. On the contrary, I love economics and have always understood it to be a behavioral science dealing with human choice when confronted with alternate ends and [usually scarce] resources.
The following economics paper is worth your attention. It addresses the question of when we will know when our financial system "hits bottom." And it projects the way forward.
V. |