Anatole Kaletsky, writing in The Times today applauds the creation of an Institute for New Economic Thought, claiming that this is a direct result of last years financial meltdown exposing 'modern economics' as an emperor with no clothes.
Well any fool worth his jingle belled hat could see that 'modern economics' was totally unworkable in the long run.
The interesting thing is why did it take the collapse of the financial system before any of the experts, i.e. the economists realised?
How much hope do you hold out for INET not to make the same mistakes in the belief that if it talks the talk the economy can walk the walk.
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I started to worry about economics when I realised that PPE Politics, Philosophy and Economics- was the most popular Oxbridge course and that graduates from it would be disproportionally represented in the House of Commons. John Maynard Keynes meanwhile, whom I first learned of as a boyfriend of the Bloomsbury artist Duncan Grant, later changed his sexual orientation to fall madly in love with a ballerina.
If such a famous economist can change his mind on such a fundamental impulse then I guess anything is possible