During a recent presentation at the London School of Economics, Nobel Prize winning economist and Princeton University Professor Paul Krugman pointed out that "most work in macroeconomics in the past 30 years has been useless at best and harmful at worst". The road out of the crisis is uncertain. Economists are used to criticizing what policymakers do. A handful of them including NYU's Nouriel Roubini may have anticipated the crash. Where do we go from here?
In 2006, NYU's William Easterly...
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