Friday, April 13, 2012

INET talks about the crisis

The Institute for New Economic Thinking, INET, is meeting in Berlin today until Sunday to discuss the current crisis, and the state of economics and economic policy: (Paradigm Lost: Rethinking Economics and Politics). This is important and worth watching. Check out the information on the website, and most importantly, comments from folks tweeting at the conference. Just search for #inetberlin  on your twitter feed.

Early messages:

Classical economists are trying to grapple with the new recognition (new for them anyway), that human behaviour is not as rational and predictable as their theories to date would have us believe. (See @LynnParramore)

Re-working the basics of economic policy to let up on austerity measures.

And my favourite quote so far, tweeted by Megan Greene (@economistmeg)

'Gurria: Markets are like heat-seeking missiles. They go after your weaknesses, not your strengths.' #inetberlin

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