Wednesday, July 09, 2008

What Has Been, That Will Be; What Has Been Done, That Will Be Done

Stiglitz has an editorial in "Egypt's only independent newspaper in English:
"Neo-liberal market fundamentalism was always a political doctrine serving certain interests. It was never supported by economic theory. Nor, it should now be clear, is it supported by historical experience. Learning this lesson may be the silver lining in the cloud now hanging over the global economy." -- Joseph E. Stigliz, , 7 July 2008
And some bloggers are flabbergasted. Interestingly enough, Stiglitz said the same thing last October. Maybe if enough economists say the same thing over and over and over, other economists should examine their rationale. Clearly, Stiglitz is not just saying whatever momentarily passes through his mind.

1 comment:

Gabriel said...

What puzzles me is that whenever said flabbergasted bloggers make similar claims about other intellectual traditions, no one gets flabbergasted.

Of course, this says nothing about how wrong or right Stiglitz is.