economists , bah, humbug

The American Economics Association held its annual meeting in Denver last weekend.

"The fact that the overwhelming majority of economists in policy positions failed to see the signs of this disaster coming, and supported the policies that brought it on, did not seem to be a major concern for most of the economists at the convention. Instead, they seemed more intent on finding ways in which they could get ordinary workers to accept lower pay and reduced public benefits in the years ahead." says Dean Baker in the Guardian

A very telling remark , SOYMB thinks.