I fail to get the point of this piece by Kenneth Rogoff on Bernanke’s press conference. What is the need for this homage to Bernanke? Intellectual Capture? Also, Ken Rogoff’s piece reminded me of this piece in Huffington Post.
This blog post by Barry Ritholtz on why Shiller was defending fellow economists is definitely worth a read as are some of the older posts that he offers you, on the same topic. I guess, in the end, answers to the question of why Shiller was defending fellow economists has to be found in institutional tyranny, the need to belong to the herd, etc.
Oh, banks, dear banks. When would we stop hearing news such as this and this? Well, we won’t as long as they have Mr. Ben Bernanke batting for them.
This post originally appeared at The Gold Standard and is reproduced here with permission.
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