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> In 2007 March was he actually lying? The question the author should be asking. Effectively timed intervention would have been more helpful at preventing the
by notahacker 6y ago
> In 2007 March was he actually lying?
The question the author should be asking. Effectively timed intervention would have been more helpful at preventing the financial panic than 'prosocial lying', so the mainstream explanation that Bernanke was just wrong has a lot going for it
- pas 6y agoI mean, how wrong was he? In hindsight we know that he underestimated the slowdown and how the economy will "behave". But in 2007 March, when he delivered that statement, was he in accordance with best practices, best models about economics, and was he communicating about the data, indicators, possibilities, models and all that in the best way (known at the time to be the most optimal)? I'm not trying to "whitewash" him, but this whole piece is just about being very truthful, maximally correct with regards to economics. Look at the data and just the data, not your wishes. But then it seems that's not happening when it comes to its first economics related example.