Economist - What went wrong with Economics

From the Daily Reckoning

In the meantime, The Economist magazine, that august font of accepted wisdom, tells us "what went wrong with economics."

Nobel Prize winner Paul Krugman remarked that the learning of the past 30 years in macroeconomics was "spectacularly useless at best, and positively harmful at worst."

The Economist responds: 'What went wrong with economics?' it asks. Not much, it concludes.

Except that its most precious theories are claptrap. And its most prominent experts are nincompoops. And it helped cause the biggest economic crisis in perhaps half a century...failed to see it coming...failed to understand it...and then made it worse by offering to fix it.

Apart from that...macroeconomics is fine.

Economist Cover -

I like the cover