Reading List: The end of Wall Street as they knew it

14th February 2012

Surprise! Economists Are Not Good At Forecasting

Surprise! Economists are bad at forecasting: "Simply put, 2011 was a terrible year for economic prognostication. With seemingly no end of overseas disasters – natural and man-made – to throw off experts' predictions, it's hardly surprising that this year's winning score would only have been good for 35th in last year's rankings." The Big Picture

 

10 Questions for Economists Who Oppose Manufacturing Subsidies

Jeff Madrik poses ten rhetorical questions to mainstream economists who are up in arms about President Obama's support for manufacturing even though the same economists never spoke up about financial sector subsidies during the financial crisis of 2008. New Deal 2.0

 

The Not-So-Dismal Science?

This five page introduction of an academic paper (PDF) argues that "the time has come for us to reconceive our definition of a healthy economy to go beyond corporations and markets that are less sick, freer of pervasive organizational and managerial disorder." Harvard Blog Review

 

The End of Wall Street As They Knew It

Excellent article on the future of Wall Street. The author says the next decade will answer the question of whether a Wall Street that's built on a more stable foundation-and with smaller bonuses-can sustain the New York economy the way the last one did. New York Magazine

 

Cameron and the Confidence Fairy: An Update

Economist Paul Krugman presents consumer and business confidence indexes that quash the notion that the government's austerity plan was all about confidence. New York Times

 

Got any other suggestions for what we should be reading? Tell us below? 

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