"How The Federal Reserve Bought The Economics Profession"
September 14, 2009
I feel like a babe in the woods. How, I wondered, could otherwise smart people like Tyler Cown kowtow to the same members of the Federal Reserve who failed to foresee the economic crisis? It made no sense. My error, I now realize, was assuming good faith on the part of the Fed's supporters. Silly me:
The Federal Reserve, through its extensive network of consultants, visiting scholars, alumni and staff economists, so thoroughly dominates the field of economics that real criticism of the central bank has become a career liability for members of the profession, an investigation by the Huffington Post has found.
There you have it. Hopefully Robin Hanson will review the HuffPo piece on Overcoming Bias.