{"id":12467,"date":"2015-07-16T08:30:24","date_gmt":"2015-07-16T12:30:24","guid":{"rendered":"http:\/\/multiplier-effect.org\/?p=12467"},"modified":"2019-03-14T11:00:09","modified_gmt":"2019-03-14T15:00:09","slug":"crystal-balls-or-robust-economic-research","status":"publish","type":"post","link":"https:\/\/blogs.bard.edu\/multiplier-effect\/crystal-balls-or-robust-economic-research\/","title":{"rendered":"Crystal Balls, or Robust Economic Research?"},"content":{"rendered":"<p>An <a href=\"http:\/\/www.bloomberg.com\/news\/articles\/2015-07-15\/nine-people-who-saw-the-greek-crisis-coming-years-before-everyone-else-did\" target=\"_blank\" rel=\"noopener noreferrer\">article from Bloomberg<\/a> listed nine people who saw the Greek crisis coming years ago. The list may be narrowly confined to Anglo-Saxon economists, but I am quite happy that most of the people listed worked at, or were\/are affiliated with, the <a href=\"http:\/\/www.levyinstitute.org\/\" target=\"_blank\" rel=\"noopener noreferrer\">Levy Institute<\/a>.<\/p>\n<p>&nbsp;<\/p>\n<p><a href=\"http:\/\/www.levyinstitute.org\/scholars\/wynne-godley\" target=\"_blank\" rel=\"noopener noreferrer\">Wynne Godley<\/a> is the first on the list, given his prescient words in the <a href=\"http:\/\/www.lrb.co.uk\/v14\/n19\/wynne-godley\/maastricht-and-all-that\" target=\"_blank\" rel=\"noopener noreferrer\">London Review of Books<\/a>\u00a0in October 1992. I am happy I contributed to spreading <a href=\"https:\/\/www.youtube.com\/watch?v=8DUUuy7ZlJ8\" target=\"_blank\" rel=\"noopener noreferrer\">his thoughts<\/a> in Italy.<\/p>\n<p>&nbsp;<\/p>\n<p><a href=\"http:\/\/www.levyinstitute.org\/scholars\/mathew-forstater\" target=\"_blank\" rel=\"noopener noreferrer\">Mat Forstater<\/a> is a friend I regularly meet at the annual Minsky Summer Seminar at Levy.<\/p>\n<p>&nbsp;<\/p>\n<p><a href=\"http:\/\/www.levyinstitute.org\/scholars\/stephanie-a-kelton\" target=\"_blank\" rel=\"noopener noreferrer\">Stephanie Kelton<\/a>, now chief economist on the U.S. Senate Budget Committee, was often at the Minsky Seminar, before her latest appointment.<\/p>\n<p>&nbsp;<\/p>\n<p>Stephanie worked with <a href=\"http:\/\/www.levyinstitute.org\/scholars\/l-randall-wray\" target=\"_blank\" rel=\"noopener noreferrer\">Randy Wray<\/a>, who is among the most prolific and influential economists at Levy.<\/p>\n<p>If so many economists doing research together got it right on Greece (as well as on the 2007 recession) maybe it is not by the power of crystal balls, but because of robust, consistent economic thinking?<\/p>\n","protected":false},"excerpt":{"rendered":"<p>An article from Bloomberg listed nine people who saw the Greek crisis coming years ago. The list may be narrowly confined to Anglo-Saxon economists, but I am quite happy that most of the people listed worked at, or were\/are affiliated with, the Levy Institute. &nbsp; Wynne Godley is the first on the list, given his [&hellip;]<\/p>\n","protected":false},"author":210,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15,25],"tags":[565,1130,1044,1043,452,215],"class_list":["post-12467","post","type-post","status-publish","format-standard","hentry","category-eurozone-crisis","category-levy-institute","tag-greek-crisis","tag-levy-institute","tag-mat-forstater","tag-randy-wray","tag-stephanie-kelton","tag-wynne-godley"],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/posts\/12467","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/users\/210"}],"replies":[{"embeddable":true,"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/comments?post=12467"}],"version-history":[{"count":6,"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/posts\/12467\/revisions"}],"predecessor-version":[{"id":14445,"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/posts\/12467\/revisions\/14445"}],"wp:attachment":[{"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/media?parent=12467"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/categories?post=12467"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/tags?post=12467"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}