Ahem – they just didn’t get lucky this time around.

In Barry Ritholtz’s blog post, Why Economists Missed the Crisis, he mentions as a whole, economists obviously misjudged the crisis.  He quotes Dean Baker in saying “incentives in economics profession, just as in finance, strongly encourage a lack of original thinking” – stemming from Keynes.  But so spot on for economists’ thinking. 

There are really effective, highly profitable money-making instruments out there, with all the derivatives growing in creativity.  And there are brilliant financiers and economists out there, but there’s too much information to comprehensively judge the outcome of investments, and the economy in general.

Personally, look back at my very first posting in 2007.  Spot on. *dust the shoulders off*

This is an ingenious idea!  Thanks to Tyler Cowen at Marginal Revolution for starting a book club via his blog.  I intend on following his ideas, as well as come up with my own, while reading The General Theory of Employment, Interest, and Money (Great Minds Series).  

I got some more books in my back pocket, so-to-speak.  But if you have any suggestions, feel free.  I plan on adding this book blogging club aspect to here, on top of normal posts.  Because, seriously, this is a fantastic idea!

Traffic is picking up – I should write more!  Anyone got ideas?

My current thought is (and it seems to be popular with the econ blogs out there…I had this idea two weeks ago!) – Keynesian versus Monetarism, their schools of thought argued against each other, especially pertaining to today.  This will take some research though, so it will take a while.

Any other banking/monetary policy ideas out there?