Here's something I want to run by you on behavioural economics and the way economic issues are being debated in the blogosphere.
We are witnessing an implosion of long-held belief structures that go the core of how we believed our economic system functioned. You heard Alan Greenspan admit this after the financial system collapsed in his testimony in October 2008 before Congress:
"Yes, I found a flaw," Greenspan said in response to grilling from the House Committee on Oversight and Government Reform. "That is precisely the reason I was shocked because I'd been going for 40 years or more with very considerable evidence that it was working exceptionally well."
Greenspan said he was "partially" wrong in opposing regulation of derivatives and acknowledged that financial institutions didn't...
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Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He has also been a regular economic and financial commentator in print and on television for the past decade. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.