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*