Finally somebody says it!
Economist, author and Audit pal Jeff Madrick has a piece on the Daily Beast that I’ve been hoping someone would write:
How the Entire Economics Profession Failed
Economics is probably unique among academic disciplines in the extent to which its academic debates end up affecting the lives of everyday people. Put it this way, art historians, comp-lit scholars, and anthropologists may be susceptible to the same academic pitfalls as economists—group-think, a focus on minutia, the lack of interaction with humanoid life forms, poor hygiene, etc.—but it doesn’t matter because policymakers don’t actually rely on them to make policy.
That’s not true with economics. This is a profession that could stand for some soul-searching, and some scrutiny. Come to think of it, that’s not a bad story idea for a business-news outlet.
If you screwed up flipping burgers as many times as some major economists have they'd be fired in a heart beat...
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