01 February 2009

This American Economy

If you have not heard it already, This American Life over at npr did what I think is a pretty remarkable segment this week concerning debates among macro-economists about how to proceed when (as is now the case) all hell is breaking loose. The segment is terrific because it covers a bunch of the economics in pretty accessible terms - this is radio after all - and also because it makes plain some of the fairly dramatic debates that go on among economists. It shows that in what may look like a monolithic profession there is significantly less consensus than one might expect. And it shows that we know a lot less about how the economy works than economists typically want to let on.

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2 Comments:

Blogger R.A. said...

Hey Jim,

I heard that show as I was on my way home tonight. It was very good. And I agree with you in appreciating how they presented the fact that there is hardly a strong consensus among economists.

Like the social sciences, economics deals with a shifty subject that is next to impossible to actually understand fully.

01 February, 2009 23:29  
Blogger Public Squalor said...

Thanks for the link. Another great radio program is Doug Henwood's "Behind The News" on WBAI in New York and available as a podcast.

(http://www.leftbusinessobserver.com/Radio.html)

Henwood is the editor of Left Business Observer.

- peace

02 February, 2009 16:56  

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