23 Jun 2012

Predicting the Unpredictable

Politicians and economists try to say that no one could have seen the Global Financial Collapse coming.

Oh Yeah? Says who?
What do these names all have in common?
Dean Baker, Wynne Godley, Michael Hudson, Steve Keen, Paul Krugman,
Jakob Brøchner Madsen, Ann Pettifor, Kurt Richebächer, Nouriel Roubini,
Robert Shiller, George Soros, Joseph Stiglitz.
They all predicted the 2007 crisis

This time line from Real-World Economics Review Blog shows that beginning in 1995 non-orthodox economists started to say that something was wrong with current economic models and the state of the economy across the developed world. There is not excuse. There were warned by credible people, but they chose to ignore the warnings.

Foresight and Fait Accompli: Two Timelines for the Global Financial Collapse.

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Keep is seemly & on-topic. Thanks.