Thursday, February 25, 2010

Trust me, I'm an economist

Deathbed of Keynesian Economics Will Be in U.K. by Matthew Lynn

Moral of the story: the macroeconomics you learned at university is probably wrong.


  1. sounds like Pierre de Vos on Menzi Simelane.

    "The yield on U.K. government debt is now higher than on Spanish or Italian bonds" - wow!

    Keynesian economics is a dinosaur.

  2. When I was seven I wanted to study paleontology...strange how things come full circle...

  3. @Julian "the macroeconomics you learned at university is probably wrong"

    Econ undergrads should really be encouraged to read more widely. Relevant, short-article blogs like SA4L could be an important part of that. We should get some publicity at the Econ Dept. J is this somehow possible?

  4., I don't know if the UCT econ lecturers would be amenable to us muscling in on their turf. Especially since some (I suspect) have a strong socialist streak, and don't want their students to be corrupted with dangerous free thinking!

    To be honest, I think the onus is on the lecturers to introduce undergrads to a wide range of economic ideas and philosophies. Most students are time- and/or talent-constrained, and I really feel far too much of the econ courses were devoted to technical, mathematical material that was forgotten soon after the exam. This was at the expense of so many interesting economic ideas that one remembers for the rest of your life.