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Wednesday, October 08, 2008

Romer: economists in divide

Paul Romer advocates a more realistic approach to current financial crisis and to issues in economics in general.

Debate among economists about the $700 billion Paulson plan reveals a deep divide between realists and fundamentalists. If economists and policy makers pay attention to how the tension between these two positions plays out in this particular debate, it will help us know how to deal with it in other areas, including development.

more here.