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30 31 Blog powered by Typepad  « Alexander Fink --- 2014 Winner
of ORDO Award for Outstanding Scholarship in the Field of
"Economic Order" | Main | Happy Birthday Professor Israel M.
Kirzner »    A "brilliant" mind (Stiglitz, allegedly) that can't
comprehend the failures of government is hardly brilliant, is my
view. Arrogant, yes. Brilliant? No.  great post. As for central
banks, as Greg Mankiw noted in a great 2006 JEP article: •
Autobiographies and other hands-on sources show that recent
developments in business cycle theory by new classical and new
Keynesians have had close to zero impact on practical
policymaking at central banks.  • Central banker’s analysis of
economic fluctuations and monetary policy as discussed in their
autobiographies are intelligent and nuanced, but it shows no
traces of modern macroeconomic theory, and would seem almost
completely familiar to someone who