http://wallstreetpit.com/10157-how-economists-missed-the-800-pound-gorilla-in-the-room Wed, 08 Feb 2012 22:13:42 +0000 hourly 1 http://wordpress.org/?v=3.3.1 http://wallstreetpit.com/10157-how-economists-missed-the-800-pound-gorilla-in-the-room#comment-62674 Edward J. Dodson Mon, 07 Sep 2009 02:50:15 +0000 http://wallstreetpit.com/?p=10157#comment-62674 The answer to the question of why economists failed to diagnose the building problems that now plague the global economy is dealt with in the curent issue of the International Journal of Social Economics. This issue, to which I contributed a paper on the political economy of Benjamin Franklin, focuses on the theoretical contributions of the 19th century writer Henry George. Most of the contributing authors are economics professors who have come to appreciate Henry George's analysis of business cycles and the central importance property markets play. John C. Medaille's paper, "Jusitce and Mr. George," is a gripping analysis of what is wrong with neo-classical economics and how it got so wrong. Other papers included in the volume as just as important. I hope it finds a broad readership. The answer to the question of why economists failed to diagnose the building problems that now plague the global economy is dealt with in the curent issue of the International Journal of Social Economics. This issue, to which I contributed a paper on the political economy of Benjamin Franklin, focuses on the theoretical contributions of the 19th century writer Henry George. Most of the contributing authors are economics professors who have come to appreciate Henry George’s analysis of business cycles and the central importance property markets play. John C. Medaille’s paper, “Jusitce and Mr. George,” is a gripping analysis of what is wrong with neo-classical economics and how it got so wrong. Other papers included in the volume as just as important. I hope it finds a broad readership.

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