Sunday, July 14, 2013
The Wall Street Journal Provides A Platform For Economic Nonsense
John Taylor is a prominent economist from Stanford. He and like minded colleagues with a University of Chicago implant in the brains have written a series of articles in the Wall Street Journal about the financial crisis, and the failures of US fiscal and monetary policy. Brad DeLong reviewed their WSJ articles and found inconsistencies, faulty predictions about what would happen in the economy as a result of government policies, and even ignorance about the data that existed at the time in which their articles were written. If they were graduate students at Berkeley they would have been given failing grades by Brad DeLong. Since they are prominent economists who adhere closely to the ideology preferred by the WSJ, and many other economists, they are given a platform by the WSJ and a free pass by many of their colleagues in the profession to publish nonsense.