The financial crisis: Why did no-one see it coming, and why did economists get it so wrong?

Why didn't the experts see it coming?, asked the Queen of England, and the British Academy wrote a letter to explain. Of the lead up to the global financial crisis they wrote: “It is difficult to recall a greater example of wishful thinking combined with hubris.” Meanwhile, economist Paul Krugman asked a similar question - … Continue reading The financial crisis: Why did no-one see it coming, and why did economists get it so wrong?

Economics of the Singularity

Crooked Timber has been running a 'book event' on the economic ideas of science fiction writer Charlie Stross. In case you haven't come across him, Stross is a prolific (300,000 words a year) writer of extravagant ideas who lives in Scotland. His approach to  pulp sci-fi is reminiscent of  Philip K Dick's.  Sure it's commercial, … Continue reading Economics of the Singularity