Here we have one of those columns that might have initially been missed (yes, even by those of us who blog fastidiously about such things) that bears repeating, or re-posting, as the case may be: We submit, for your consideration, Paul Krugman’s latest column. That is all. —KA
The New York Times:
When I first began writing for The Times, I was naïve about many things. But my biggest misconception was this: I actually believed that influential people could be moved by evidence, that they would change their views if events completely refuted their beliefs.
And to be fair, it does happen now and then. I’ve been highly critical of Alan Greenspan over the years (since long before it was fashionable), but give the former Fed chairman credit: he has admitted that he was wrong about the ability of financial markets to police themselves.