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“Whenever people say, ‘Oh, economists didn’t know what was going on. Economists have no models. They missed everything’—that’s of course, mostly true. But it has to have huge asterisks for people like Perry Mehrling because he totally knew what was going on. And so, after the crisis, when you were looking for a model, for a framework, his explanation of banking and finance explained it brilliantly. His profile has gone up dramatically since then.” Read more...
Samuel A. Chambers, Political Scientist
