The Lessons of the North Atlantic Crisis for Economic Theory and Policy

Re-thinking macro policy:

Joseph Stiglits, Davis Romer, Oliver Blanchard at  Columbia University, New York, and co-host of the Conference on Rethinking Macro Policy II: First Steps and Early Lessons.

The Lessons of the North Atlantic Crisis for Economic Theory and Policy

Posted on May 3, 2013 by iMFdirect   http://blog-imfdirect.imf.org/

post by: Joseph E. Stiglitz

In analyzing the most recent financial crisis, we can benefit somewhat from the misfortune of recent decades. The approximately 100 crises that have occurred during the last 30 years—as liberalization policies became dominant—have given us a wealth of experience and mountains of data. If we look over a 150 year period, we have an even richer data set.