Another Bretton Woods for a New Kind of Economic Thinking?

Reporting from INET, a conference held at Bretton Woods, NH on the future of the global economy and rethinking some of our foundational assumptions about the dismal science:

Here too, was former Council of Economic Advisers and super-mathematical economist Ken Rogoff agreeing (a bit reluctantly it must be said) that there are things in economics that can’t be modeled. Even more telling were Rogoff’s references to the importance of the thinking of political economist and historian Charles Kindleberger whose books, once required reading, have vanished from the modern, mathematically oriented economics curriculum. In a significant aside, Rogoff noted that his students don’t consider Rogoff’s recent book on the history of recovery from economic crises to be a legitimate research effort because it is history rather than mathematics.

via The view from Bretton Woods | Foreign Policy.

Lest you think that this is the new Davos, take a look at John Cassidy’s New Yorker  piece that channels Keynes and wins the headline-writing award for “George Soros’s ‘Monstrous Monkey House'” including reference to a  talk by Paul Volcker on international monetary reform. It sounds like a more productive discussion than the famed economist suspected.


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