How Did Economists Get It So Wrong

By L. Cordonnier. 2011

136 citations recorded by the source corpus.

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

What is this ‘school’ called neoclassical economics? (2013, background): “Thus Paul Krugman (2009) refers to ‘monetarist’ and ‘freshwater economist’ opponents as neoclassical, whilst he in turn is criticised by Steve Keen (2012) as being neoclassical; and so on.”
The Economic Crisis is a Crisis for Economic Theory (2010, background): “The vocal and publicly audible criticisms of Krugman (2009a), Shiller (2003 and 2006) and Stiglitz (2003), were dismissed as attacks based on an insufficient understanding of the powerful tools that were being employed.”
More is different ... and complex! the case for agent-based macroeconomics (2019, background): “…the same time, an increasing number of economists have claimed that the 2008 “economic crisis is a crisis for economic theory” (Kirman, 2010b, 2016; Colander et al., 2009; Krugman, 2009, 2011; Farmer and Foley, 2009; Caballero, 2010; Stiglitz, 2011, 2015, 2017; Kay, 2011; Dosi, 2012b; Romer, 2016).”
Macroeconomic Policy in DSGE and Agent-Based Models (2012, unknown): “Indeed, an increasing number of leading economists claim that the current “economic crisis is a crisis for economic theory” (Kirman, 2010; Colander et al., 2009; Krugman, 2009, 2011; Caballero, 2010; Stiglitz, 2011; Kay, 2011; Dosi, 2011; Delong, 2011).”