Rethinking Economics with Galbraith, Krugman and Buiter

Here is an interesting panel debate with Jamie Galbraith, Paul Krugman and Willem Buiter. If you want to get to the panelists, skip to about 19 minutes. Also of interest is around 26 minutes, where Jamie Galbraith talks about “backwater economics”, which he contrasts to mainstream ‘saltwater’ and ‘freshwater’ economics. He acknowledges that backwaters may be “kind of dilgy” but states that, in contrast to the “sterile” mainstream schools, they are “where evolution actually occurs”. Thank you to our friends at Rethinking for organising such an excellent event and group of...