> We now live in a different economic universe than we did before the crash. Falling unemployment no longer drives up wages. Printing money does not cause inflation. Yet the language of public debate, and the wisdom conveyed in economic textbooks, remain almost entirely unchanged
This isn’t a stupid article, and parts of it are even true (though the true parts are mostly that same much-despised orthodox economics.) But it is an arrogant piece, and if you act like everyone who disagrees with you is an idiot or else corrupt, reality will sometimes smack you in the face.
> We now live in a different economic universe than we did before the crash. Falling unemployment no longer drives up wages. Printing money does not cause inflation. Yet the language of public debate, and the wisdom conveyed in economic textbooks, remain almost entirely unchanged
This isn’t a stupid article, and parts of it are even true (though the true parts are mostly that same much-despised orthodox economics.) But it is an arrogant piece, and if you act like everyone who disagrees with you is an idiot or else corrupt, reality will sometimes smack you in the face.