Friday, December 05, 2014

Squabbling economists

It is interesting to know how 'top class' economists rate among themselves. Raghuram Rajan accuses Paul Krugman of paranoia. To Stiglitz, the three R's namely Rogoff, Reinhart and Rajan are third-rate economists. Rogoff dismisses Stiglitz as a loose cannon. Lawrence Summers sees Rajan as a Luddite and his economic theories misguided.

Rajan does not spare non-economists also. Justice Srikrishna is, according to Rajan, schizophrenic. In turn, Justice Srikrishna finds Rajan to be a split-personality, one as an independent academic and the other as RBI Governor.

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