"How Did Economists Get It So Wrong?"

That's the title of a very informative article published this week in the NYT Magazine. The article talks about the gap between academic economics and real time/world economics and how the unraveling of the market these days has them scratching their heads. While I can't say that I saw this economy coming, I can say that I viewed some of my old professors as a bit too... well, let's just say that they were in their own world.

Thus, I really enjoyed the article: http://www.nytimes.com/2009/09/06/magazine/06Economic-t.html?pagewanted=1&_r=1&hp

Mr. Krugman also does a good job highlighting two schools of thought, saltwater and freshwater economics, which I'd never heard of before. The reason behind that is because I apparently went to a freshwater college in the geographic middle of the country, away from oceans and the New Kenesians of the field. My professors did a thorough job pounding in the freshwater economist's perspective. Unfortunately for their creed, I never quite bit it 100%... perhaps I'm too much of a saltwater economist (which I never knew of until today)!

Read and enjoy!