Jason Lutes Illustrates Our Economic Hubris at the New York Times
Nobel Prize-winning economist Paul Krugman talks about the collective self-congratulation of economists that went before last year’s terrible economic fall at The New York Times, with supporting illustrations by Jason Lutes, the creator of the critically-acclaimed “Berlin” graphic novels.
If you’re not interested in economics your eyes may glaze over a little, but the crux of the piece (and the inspiration for the cartoons) is this:
“As I see it, the economics profession went astray because economists, as a group, mistook beauty, clad in impressive-looking mathematics, for truth… They turned a blind eye to the limitations of human rationality that often lead to bubbles and busts… and to the dangers created when regulators don’t believe in regulation.”
(via The Beat)