One of my favorite thought leaders (Nobel Prize winner), Paul Krugman, explains how he thinks about the current China syndrome, and why he believes that most of the responses that he hears from fans are missing the point.The macroeconomics of Chinese currency intervention, the fallacies of elasticity pessimism, and the political economy issue of how to deal with Chinese intransigence.
An interesting state of the economics piece by economist Paul Krugman (pictured), "How Did Economists Get It So Wrong?"When it comes to the all-too-human problem of recessions and depressions, economists need to abandon the neat but wrong solution of assuming that everyone is rational and markets work perfectly. The vision that emerges as the profession rethinks its foundations may not be all that clear; it certainly won’t be neat; but we can hope that it will have the virtue of being at least partly right.A few notes about it here.
