From MIT to IMF
By the evidence of the recent IMF conference, there is apparently now consensus that the global financial crisis has killed--“shattered” (David Romer), “destroyed” (Stiglitz)--pre-crisis academic economic orthodoxy. But that orthodoxy had many dimensions, and there is no consensus on where repair efforts are most immediately necessary.
Instead, we see a division of labor emerging in which everyone focuses on that one dimension where they feel themselves to have some special expertise. In such a situation, an overall map may be helpful for making sense of the reconstruction effort as a whole. Read more