{"id":191311,"date":"2009-09-04T13:38:00","date_gmt":"2009-09-04T18:38:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2009\/09\/04\/on-the-failure-of-modern-economics\/"},"modified":"2009-09-04T13:38:00","modified_gmt":"2009-09-04T18:38:00","slug":"on-the-failure-of-modern-economics","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2009\/09\/04\/on-the-failure-of-modern-economics\/","title":{"rendered":"On The Failure of Modern Economics"},"content":{"rendered":"<p><img decoding=\"async\" src=\"http:\/\/img267.imageshack.us\/img267\/9656\/12896563030133925395446.jpg\" style=\"margin: 0px 0px 10px 10px; float: right; cursor: pointer;\" \/>Krugman, <a href=\"http:\/\/www.nytimes.com\/2009ht9\/06\/magazine\/06Economic-t.xml\">on the failure of modern efficient market economics<\/a>.<\/p>\n<p>His basic thesis is that the belief in the infallible markets, which has been dashed repeatedly over the past 200 years, came back, and when juxtaposed with beautiful mathematics that were unfortunately completely disjoint from reality, we got our current situation.<\/p>\n<p>Go read.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Krugman, on the failure of modern efficient market economics. His basic thesis is that the belief in the infallible markets, which has been dashed repeatedly over the past 200 years, came back, and when juxtaposed with beautiful mathematics that were unfortunately completely disjoint from reality, we got our current situation. Go read.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[991,973,1002,1003],"tags":[],"class_list":["post-191311","post","type-post","status-publish","format-standard","hentry","category-academe","category-economy","category-good-writing","category-philosophy"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/191311"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=191311"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/191311\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=191311"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=191311"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=191311"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}