Marginal Revolutionaries; Heterodox Economics  

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Jenis: Article from Bulletin/Magazine
Dalam koleksi: The Economist (http://search.proquest.com/) vol. 401 no. 8765 (Dec. 2011), page 49-52.
Topik: Economists; Macroeconomics; Weblogs; Economic Conditions; Financial

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Perpustakaan Pusat (Semanggi) Nomor Panggil: EE29.69 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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Economics, perhaps more than any other discipline, has taken to blogs with gusto. Mainstream figures such as Paul Krugman and Greg Mankiw have commanded large online audiences for years, audiences which include many of their peers. But the crisis has made the academic establishment fractious and vulnerable. Highly credentialed economists now publicly mock each other's ignorance and foolishness. That has created an opening for the less decorated members of the guild, and the truly peripheral. In the blogosphere anywhere can be, as the title of Mr Mosler's blog has it, "The Center of the Universe". In a world beset by doubt, there are great opportunities for those happy to pursue their beliefs to their logical conclusions and thrillingly thoroughgoing in the way they do so. Is fiscal stimulus not working? Then do more of it, say the neo-chartalists. Are monopolies and price controls a problem? Then get rid of the central bank's monopoly in setting the price of credit and the supply of government money, say the Austrians. Damn the torpedoes and never mind the naysayers--acolytes in the comments section will sort them out. On the blogs, the economic conversation boils and bubbles again. That ferment is surely spreading into the academy--and in time some new quintessence will be brought forth, perhaps from materials now considered base.

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