| Krugman won his nobel prize in economics for his work on international trade, and especially protectionism of infant industries: https://www.nobelprize.org/prizes/economic-sciences/2008/kru... His NYT column might be controversial, but his work in international trade absolutely isn't. It's like saying Chomsky is controversial to counter argue his work in linguistics. Chomsky might be a political hack, but his opinion on formal grammars is probablyt sound. > I wonder, how much "textbook stuff" was removed from textbooks after 2008? Basically nothing, to be honest? What should have changed? The banks that collapsed into a financial crisis were effectively committing fraud. The federal reserve were publishing opinions that the housing sector was at risk as early as 2005-2006. Also, it's difficult for a central bank to know the extent of the mispricing when there's active concealment of risks (eg. backroom deals with insurers and risk assessors) - you need full on auditing to spot that. The bigger problem with 2008 is that almost no one responsible went to jail. |