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What can we learn about economics from the 2008 crisis, both as a profession and as a (changing) body of knowledge? Focus especially on the last part of Inside Job and Cassidy’s “After the Crash.” Why...

What can we learn about economics from the 2008 crisis, both as a profession and as a (changing) body of knowledge? Focus especially on the last part of Inside Job and Cassidy’s “After the Crash.” Why did (most) economists get it so wrong according to Krugman?

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Inside Job as film shows the banking corruption that leads to financial crisis in 2008 with an anti-free market tone. Deregulation which risks with depositor’s money are used by some elite economists makes the system corrupt when risk managers in the banks feel helpless to show their fear and can’t question the trading section about generation huge amount of profit.

According to Krugman it is the professional blindness which leads to this crisis.

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