Indonesian Volcano Erupts Again

Indonesian Volcano Erupts Again | News | English.

Motorists ride as pyroclastic material from the eruption of Mount Merapi billows in the background in Cangkringan, Yogyakarta, Indonesia,31 Oct 2010

Photo: AP

Motorists ride as pyroclastic material from the eruption of Mount Merapi billows in the background in Cangkringan, Yogyakarta, Indonesia, 31 Oct 2010

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Indonesia’s most volatile volcano erupted again Sunday, triggering panic among thousands of people who had returned to the mountain to check on crops and livestock.

Indonesia sent in troops Saturday to forcibly evacuate villagers from the slopes of Mount Marapi, but the volcano quieted after an eruption earlier in the day and people started returning to their homes.

The Indonesian Red Cross says at least 36 people have died since the mountain began spewing ash and searing gases in a string of eruptions that began Tuesday. There was no word Sunday on further casualties.

Hundreds of kilometers to the west, rough seas and bad weather calmed, allowing the delivery of disaster aid to the remote Indonesian islands of Mentawai, hit by a major earthquake and tsunami several days ago. The official toll climbed to 449 Sunday, with scores missing.

Monsoon weather had hampered efforts to ferry tents, medicine, food and water to thousands of people living in makeshift camps on the island chain, which is more than a half-day’s travel in favorable conditions.

Indonesian President Susilo Bambang Yudhoyono visited the areas Thursday and told survivors the government is doing everything it can.

An official with Indonesia’s meteorology agency told VOA that an early warning system put in place after the devastating 2004 Indian Ocean tsunami had failed, costing some lives.

The European Union has pledged $2 million in aid for the survivors of the two disasters.

European aid chief Kristalina Georgieva said Thursday the money will help about 65,000 tsunami survivors in the Mentawai islands and 22,000 eruption survivors in central Java.

A mass funeral was held in central Java for about 20 of the victims of Tuesday’s volcanic eruption. Mount Merapi, whose name means “mountain of fire,” last erupted in 2006, killing two people.

Indonesia straddles several fault lines that make the vast island chain vulnerable to volcanic and seismic activity.

Global Warming's Silver Lining For the Arctic Rim

Slashdot News Story | Global Warming’s Silver Lining For the Arctic Rim.

Some of the comments on /. are worth reading….

“According to Laurence C. Smith, an Arctic scientist who has consistently sounded alarms about the approach of global warming, within 40 years the Arctic rim may be transformed by climate change into a new economic powerhouse. As the Arctic ice recedes, ecosystems extend, and minerals and fossil fuels are discovered and exploited, the Arctic will become a place of ‘great human activity, strategic value and economic importance.’ Sparsely populated areas like Canada, Scandinavia, Russia and the northern United States — the northern rim countries, or NORCs — will become formidable economic powers and migration magnets. Predictions in Smith’s new book The Earth in 2050 include the following: New shipping lanes will open during the summer in the Arctic, allowing Europe to realize its 500-year-old dream of direct trade between the Atlantic and the Far East, and resulting in new economic development in the north; NORCs will be among the few place on Earth where crop production will likely increase due to climate change; and NORCs will become the envy of the world for their reserves of fresh water, which may be sold and transported to other regions.”

strongest storm in 70 years hits Chicago

Strong winds buffet Chicago; tornado watch issued.

Strong winds buffet Chicago; tornado watch issued

By The Associated Press

The Associated Press
Tuesday, October 26, 2010; 7:28 AM

— Forecasters say Illinois residents should brace for potentially the most powerful storm the state has seen in over seven decades.

The National Weather Service has issued a high wind warning that’s effective from 7 a.m. to 8 p.m. Tuesday. Tornado watches or warnings have been issued for the entire Chicago area, much of central and northwest Illinois and parts of southern Illinois.

Weather Service Meteorologist Jim Allsopp says the storm is expected to be one of the strongest to hit the state in more than 70 years.

The weather service says a gust that topped 50 miles per hour slammed into the Chicago suburb of Lombard early Tuesday.

The winds have already caused some damage. ComEd spokesman Bennie Currie says the utility is trying to restore power to about 5,600 customers.

NASA to lead global asteroid response

NASA to lead global asteroid response : Nature News.

Agency’s monitoring role boosted to include warning and R&D on defence capability.

asteroid impact.NASA is to be charged with helping to avert a hit from a space rock.JULIAN BAUM / SCIENCE PHOTO LIBRARY

NASA will play a leading part in protecting the United States and the world from the threat of a dangerous asteroid strike, according to letters sent by John Holdren, director of the White House Office of Science and Technology Policy (OSTP), to Congressional committee leaders on Friday.

Holdren’s letters to the Senate Committee on Commerce, Science, and Transportation and the House Committee on Science and Technology assign responsibilities to the US space agency that go beyond its 2005 Congressional mandate to detect and track 90% of potentially hazardous asteroids with a diameter greater than 140 metres. To date the agency has found 903 of the estimated 1,050 asteroids with diameters of a kilometre or more passing within about 50 million kilometres of the Earth.

NASA will be mandated to notify other organizations, including the US Federal Emergency Management Agency (FEMA), if a dangerous asteroid is found, and to drive research and development on the capability needed to deflect the rock.

In assigning NASA’s new asteroid defence role by 15 October, Holdren was meeting a requirement of the 2008 NASA Authorization Act. Under the act OSTP is also required to choose an agency or agencies that would protect the United States and implement a deflection, if one were necessary.

Ramping up funds

So far, NASA’s mandate to track near-Earth objects has been largely unfunded.

Former US astronaut Russell ‘Rusty’ Schweickart, who has advocated for the United States and other countries to be more active in planetary defence against asteroids, says that NASA’s amplified responsibilities give it a platform for asking Congress for extra funds. “This is a major step forward,” he says. Schweickart co-chairs NASA’s Ad-Hoc Task Force on Planetary Defense, set up by the agency in March with the expectation that it would be assigned a leading role in coordinating asteroid defence (see ‘NASA panel weighs asteroid danger’).

“This is a major step forward.”


Holdren also envisions a key role for FEMA in passing along news of the impending strike to states and territories that could be affected. “The essence of the planned notification approach is to utilize existing communications resources and mechanisms resident at FEMA,” he wrote in the letters.

The letters add that NASA would make additional notifications through the US State Department and diplomatic channels to other countries that could be affected, and to the United Nations. Those notifications would be updated by NASA as more information became available about the threat, up until one day in advance of the projected impact, Holdren says.

Strategic defense

The ad-hoc task force released a report on 6 October listing actions NASA should take on planetary defence. It recommended the establishment of a Planetary Defense Coordination Office, with an annual budget of around US$250 million, and the initiation of a mission to prove capability to deflect an asteroid.

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Holdren notes in his letters that the President’s budget for the 2011 fiscal year asks for a three-fold increase in funds for near-Earth object detection activities, from $5.8 million to $20.3 million. It remains to be seen whether next year’s budget request will cater for the agency’s additional responsibilities. “It’s especially important that those activities discussed by the OSTP be supported by a proposed budget to cover those modest costs required,” says Tom Jones, another former astronaut and co-chair of the ad-hoc task force.

Despite being fairly specific about notification procedures, Holdren’s letters were much vaguer about the methods for deflecting an asteroid on a collision course with Earth. He says that the US government’s assessment of deflection options is still at an early stage.

“As NASA tests in space the techniques and technologies needed for deflection, the OSTP should re-examine this question and identify the lead agency — or agencies — to actually execute a deflection demonstration,” says Jones.

At least 64 dead in Indonesia flooding

At least 64 dead in Indonesia flooding – CNN.

  • The aftermath of flooding inTeluk Wondama, in Indonesia's West Papua on October 5, 2010.
    The aftermath of flooding inTeluk Wondama, in Indonesia’s West Papua on October 5, 2010.

At least 64 people are dead in flash floods that struck Indonesia following torrential rains, officials said Wednesday.

An additional 83 people are injured, said Priyadi Kardono of Indonesia’s National Disaster Mitigation Agency in Jakarta. He said 27 were missing, but Angung Laksono, the coordinating minister for people’s welfare, told a radio station that 68 people were missing and 3,000 had been displaced.

The hardest-hit area is the remote location of Teluk Wondama, some eight to 10 hours by ship from Manokari, West Papau, officials said. Communication lines there were also disrupted.

White House Squelched Release of BP Oil Spill Estimates

t r u t h o u t | White House Squelched Release of BP Oil Spill Estimates.

by: Renee Schoof and Margaret Talev  |  McClatchy Newspapers | Report


Washington – Government scientists wanted to tell Americans early on how bad the BP oil spill could be, but the White House denied their request to make the worst-case scenarios public, a report by staff for the national panel investigating the spill said Wednesday.

The allegation by unnamed government officials, contained in a staff working paper released Wednesday by the National Commission on the BP Deepwater Horizon Oil Spill and Offshore Drilling, is certain to fuel controversy over why the government lowballed flow rates throughout much of the spill, even as independent scientists offered vastly higher — and ultimately more accurate — estimates.

The staff paper does not assign any motive to the administration’s moves but says the underestimating of flow rates “undermined public confidence in the federal government’s response” by creating the impression the government was either incompetent or untrustworthy. The paper said that the loss of trust “fuels public fears.”

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BP initially put the spill at 1,000 barrels a day, but never disclosed any data or explained how it got that amount, the report said. In the second week of the spill, the Coast Guard said it could be as much as 5,000 barrels. That remained the government’s estimate until the end of May, even as independent scientists calculated that the rate was much higher.

The government all along had BP’s own estimates of what a worse-case scenario would be, but didn’t disclose it to the public, the report said. BP’s drilling permit put it at 162,000 barrels a day. On April 23 the Coast Guard and NOAA got an updated estimate of 64,000 to 110,000 barrels a day, but it’s unclear whether that information was from BP or how it was derived, the report said. By early May BP lowered its worst-case estimate to 60,000 barrels a day, the report said.

That figure was close to what government scientists later determined was the best estimate for the actual flow. Therefore, the government oil spill response team may have been basing their decision making on a good estimate, the report said. But, it added, “despite the fact that the Unified Command had this information relied on it for operations, and publicly stated that it was operating under a worst-case scenario, the government never disclosed what its operational scenario was.”

A warming world could leave cities flattened

A warming world could leave cities flattened – environment – 15 October 2010 – New Scientist.

EARTH is starting to crumble under the strain of climate change.

Over the last decade, rock avalanches and landslides have become more common in high mountain ranges, apparently coinciding with the increase in exceptionally warm periods (see “Early signs”). The collapses are triggered by melting glaciers and permafrost, which remove the glue that holds steep mountain slopes together.

Worse may be to come. Thinning glaciers on volcanoes could destabilise vast chunks of their summit cones, triggering mega-landslides capable of flattening cities such as Seattle and devastating local infrastructure.

For Earth this phenomenon is nothing new, but the last time it happened, few humans were around to witness it. Several studies have shown that around 10,000 years ago, as the planet came out of the last ice age, vast portions of volcanic summit cones collapsed, leading to enormous landslides.

To assess the risk of this happening again, Daniel Tormey of ENTRIX, an environmental consultancy based in Los Angeles, studied a huge landslide that occurred 11,000 years ago on Planchón-Peteroa. He focused on this glaciated volcano in Chile because its altitude and latitude make it likely to feel the effects of climate change before others.

“Around one-third of the volcanic cone collapsed,” Tormey says. Ten billion cubic metres of rock crashed down the mountain and smothered 370 square kilometres of land, travelling 95 kilometres in total (Global and Planetary Change, DOI: 10.1016/j.gloplacha.2010.08.003). Studies have suggested that intense rain cannot provide the lubrication needed for this to happen, so Tormey concludes that glacier melt must have been to blame.

With global temperatures on a steady rise, Tormey is concerned that history will repeat itself on volcanoes all over the world. He thinks that many volcanoes in temperate zones could be at risk, including in the Ring of Fire – the horseshoe of volcanoes that surrounds the Pacific Ocean (see map). “There are far more human settlements and activities near the slopes of glaciated active volcanoes today than there were 10,000 years ago, so the effects could be catastrophic,” he says.

The first volcanoes to go will most likely be in the Andes, where temperatures are rising fastest as a result of global warming. Any movement here could be an early sign of trouble to come elsewhere. David Pyle, a volcanologist at the University of Oxford, agrees. “This is a real risk and a particularly serious hazard along the Andes,” he says.

Meanwhile, ongoing studies by Bill McGuire of University College London and Rachel Lowe at the University of Exeter, UK, are showing that non-glaciated volcanoes could also be at greater risk of catastrophic collapse if climate change increases rainfall.

“We have found that 39 cities with populations greater than 100,000 are situated within 100 kilometres of a volcano that has collapsed in the past and which may, therefore, be capable of collapsing in the future,” says McGuire.

Early signs

Mount Cook (Aoraki), New Zealand

Just after midnight on 14 December 1991, 12 million cubic metres of rock and ice peeled away from the summit of New Zealand’s highest mountain. The landslide travelled 7.5 kilometres and narrowly missed slumbering hikers in an alpine hut. It occurred after an exceptionally warm week, when temperatures were 8.5 °C above average, and reduced the height of the mountain by around 10 metres.

Mount Dzhimarai-Khokh, Russia

More than 100 people were killed on 20 September 2002 when their villages were swept away after part of the peak, in the north Caucasus mountains, collapsed. Over 100 million cubic metres of debris travelled 20 kilometres. Warming permafrost is thought to have been partly to blame.

Mount Rosa, Italy

Following an unusual spring heatwave across Europe in 2007, the Alpine mountain suffered a spectacular rock avalanche, in which 300,000 cubic metres of rock fell, landing in a dry seasonal lake. Had the lake contained water, the avalanche would have generated a massive outpouring, with catastrophic consequences for the village of Macugnaga downstream.

Five Zombie Economic Ideas That Refuse to Die – By John Quiggin | Foreign Policy

Five Zombie Economic Ideas That Refuse to Die – By John Quiggin | Foreign Policy.

This could be useful to the work you & Dave M. are doing?

The global financial crisis that began with the collapse of the U.S. subprime mortgage market in 2007 ended by revealing that most of the financial enterprises that had dominated the global economy for decades were speculative ventures that were, if not insolvent, at least not creditworthy.

Much the same can be said of many of the economic ideas that guided policymakers in the decades leading up to the crisis. Economists who based their analysis on these ideas contributed to the mistakes that caused the crisis, failed to predict it or even recognize it when it was happening, and had nothing useful to offer as a policy response. If one thing seemed certain, it was that the dominance of the financial sector, as well as of the ideas that gave it such a central role in the economy, was dead for good.

Three years later, however, the banks and insurance companies bailed out on such a massive scale by governments (and ultimately the citizens who must pay higher taxes for reduced services) have returned, in zombie form. The same reanimation process has taken place in the realm of ideas. Theories, factual claims, and policy proposals that seemed dead and buried in the wake of the crisis are now clawing their way through the soft earth, ready to wreak havoc once again.

Five of these zombie ideas seem worthy of particular attention and, if possible, final burial. Together they form a package that may be called “market liberalism,” or, more pejoratively “neoliberalism.” Market liberalism dominated public policy for more than three decades, from the 1970s to the global financial crisis. Even now, it dominates the thinking of the policymakers called on to respond to its failures. The five ideas are:

The Great Moderation: the idea that the period beginning in 1985 was one of unparalleled macroeconomic stability that could be expected to endure indefinitely.

Even when it was alive, this idea depended on some dubious statistical arguments and a willingness to ignore the crises that afflicted many developing economies in the 1990s. But the Great Moderation was too convenient to cavil at.

Of all the ideas I have tried to kill, this one seems most self-evidently refuted by the crisis. If double-digit unemployment rates and the deepest recession since the 1930s don’t constitute an end to moderation, what does? Yet academic advocates of the Great Moderation hypothesis, such as Olivier Coibion and Yuriy Gorodnichenko, have stuck to their guns, calling the financial crisis a “transitory volatility blip.”

More importantly, central banks and policymakers are planning a return to business as usual as soon as the crisis is past. Here, “business as usual” means the policy package of central bank independence, inflation targeting, and reliance on interest rate adjustments that have failed so spectacularly in the crisis. Speaking at a symposium for the 50th anniversary of the Reserve Bank of Australia this year, European Central Bank head Jean-Claude Trichet offered the following startlingly complacent analysis:

We are emerging from the uncharted waters navigated over the past few years. But as central bankers we are always faced with new episodes of turbulence in the economic and financial environment. While we grapple with how to deal with ever new challenges, we must not forget the fundamental tenets that we have learned over the past decades. Keeping inflation expectations anchored remains of paramount importance, under exceptional circumstances even more than in normal times. Our framework has been successful in this regard thus far.

The Efficient Markets Hypothesis: the idea that the prices generated by financial markets represent the best possible estimate of the value of any investment. (In the version most relevant to public policy, the efficient markets hypothesis states that it is impossible to outperform market valuations on the basis of any public information.)

Support for the efficient markets hypothesis has always relied more on its consistency with free market ideas in general than on clear empirical evidence.

The absurdities of the late 1990s dot-com bubble and bust ought to have killed the notion. But, given the financial sector’s explosive growth and massive profitability in the early 2000s, the hypothesis was too convenient to give up.

Some advocates developed elaborate theories to show that the billion-dollar values placed on companies delivering dog food over the Internet were actually rational. Others simply treated the dot-com bubble as the exception that proves the rule.

Either way, the lesson was the same: Governments should leave financial markets to work their magic without interference. That lesson was followed with undiminished faith until it came to the edge of destroying the global economy in late 2008.

Even now, however, when the efficient financial markets hypothesis should be discredited once and for all, and when few are willing to advocate it publicly, it lives on in zombie form. This is most evident in the attention paid to ratings agencies and bond markets in discussion of the “sovereign debt crisis” in Europe, despite the fact that it was the failure of these very institutions, as well as the speculative bubble they helped generate, that created the crisis in the first place.

Dynamic Stochastic General Equilibrium (DSGE): the idea that macroeconomic analysis should not be concerned with observable realities like booms and slumps, but with the theoretical consequences of optimizing behavior by perfectly rational (or almost perfectly rational) consumers, firms, and workers.

DSGE macro arose out of the breakdown of the economic synthesis that informed public policy in the decades after World War II, which combined Keynesian macroeconomics with neoclassical microeconomics. In the wake of the stagflation of the 1970s, critics of John Maynard Keynes like University of Chicago economist Robert Lucas argued that macroeconomic analysis of employment and inflation could only work if it were based on the same microeconomic foundations used to analyze individual markets and the way these markets interacted to produce a general equilibrium.

The result was a thing of intellectual beauty, compared by the IMF’s chief economist, Olivier Blanchard, to a haiku. By adding just the right twists to the model, it was possible to represent booms and recessions, at least on the modest scale that prevailed during the Great Moderation, and derive support for the monetary policy.

But when the crisis came, all this sophistication proved useless. It was not just that DSGE models failed to predict the crisis. They also contributed nothing to the discussion of policy responses, which has all been conducted with reference to simple Keynesian and classical models that can be described by the kinds of graphs found in introductory textbooks.

Economist Paul Krugman and others have written that the profession has mistaken beauty for truth. We need macroeconomic analysis that is more realistic, even if it is less rigorous. But the supertanker of an academic research agenda is hard to turn, and the DSGE approach has steamed on, unaffected by its failure in practice. Google Scholar lists 2,600 articles on DSGE macro published since 2009, and many more are on the way.

The Trickle-Down Hypothesis: the idea that policies that benefit the wealthy will ultimately help everybody.

Unlike some of the zombie ideas discussed here, trickle-down economics has long been with us. The term itself seems to have been coined by cowboy performer Will Rogers, who observed of U.S. President Herbert Hoover’s 1928 tax cuts: “The money was all appropriated for the top in the hopes that it would trickle down to the needy. Mr. Hoover … [didn’t] know that money trickled up.”

Trickle-down economics was conclusively refuted by the experience of the postwar economic golden age. During this “Great Compression,” massive reductions in inequality brought about by strong unions and progressive taxes coexisted with full employment and sustained economic growth.

Whatever the evidence, an idea as convenient to the rich and powerful as trickle-down economics can’t be kept down for long. As inequality grew in the 1980s, supply-siders and Chicago school economists promised that, sooner or later, everyone would benefit. This idea gained more support during the triumphalist years of the 1990s, when, for the only time since the breakdown of Keynesianism in the 1970s, the benefits of growth were widely spread, and when stock-market booms promised to make everyone rich.

The global financial crisis marks the end of an economic era and provides us with a position to survey how the benefits of economic growth have been shared since the 1970s. The answers are striking. Most of the benefits of U.S. economic growth went to those in the top percentile of the income distribution. By 2007, just one out of 100 Americans received nearly a quarter of all personal income, more than the bottom 50 percent of households put together.

The rising tide of wealth has conspicuously failed to lift all boats. Median household income has actually declined in the United States over the last decade and has been stagnant since the 1970s. Wages for males with a high school education have fallen substantially over the same period.

Whatever the facts, there will always be plenty of advocates for policies that favor the rich. Economics commentator Thomas Sowell provides a fine example, observing, “If mobility is defined as being free to move, then we can all have the same mobility, even if some end up moving faster than others and some of the others do not move at all.”

Translating to the real world, if we observe one set of children born into a wealthy family, with parents willing and able to provide high-quality schooling and “legacy” admission to the Ivy League universities they attended, and another whose parents struggle to put food on the table, we should not be concerned that members of the first group almost invariably do better. After all, some people from very disadvantaged backgrounds achieve success, and there was no law preventing the rest from doing so.

Contrary to the cherished beliefs of most Americans, the United States has less social mobility than any other developed country. As Ron Haskins and Isabel Sawhill of the Brookings Institution have shown, 42 percent of American men with fathers in the bottom fifth of the income distribution remain there as compared to: Denmark, 25 percent; Sweden, 26 percent; Finland, 28 percent; Norway, 28 percent; and Britain, 30 percent. The American Dream is fast becoming a myth.

Privatization: the idea that nearly any function now undertaken by government could be done better by private firms.

The boundaries between the private and public sectors have always shifted back and forth, but the general tendency since the late 19th century has been for the state’s role to expand, to correct the limitations and failures of market outcomes. Beginning with Prime Minister Margaret Thatcher’s government in 1980s Britain, there was a concerted global attempt to reverse this process. The theoretical basis for privatization rested on the efficient markets hypothesis, according to which private markets would always yield better investment decisions and more efficient operations than public-sector planners.

The political imperative derived from the “fiscal crisis of the state” that arose when the growing commitments of the welfare state ran into the end of the sustained economic growth on which it was premised. The crisis manifested itself in the “tax revolts” of the 1970s and 1980s, epitomized by California’s Proposition 13, the ultimate source of the state’s current crisis.

Even in its heyday, privatization failed to deliver on its promises. Public enterprises were sold at prices that failed to recompense governments for the loss of their earnings. Rather than introducing a new era of competition, privatization commonly replaced public monopolies with private monopolies, which have sought all kinds of regulatory arbitrage to maximize their profits. Australia’s Macquarie Bank, which specializes in such monopoly assets and is known as the “millionaires’ factory,” has shown particular skill in jacking up prices and charges in ways not anticipated by governments undertaking privatization.

Privatization failed even more spectacularly in the 21st century. A series of high-profile privatizations, including those of Air New Zealand and Railtrack in Britain, were reversed. Then, in the chaos of the global financial crisis, giants like General Motors and American International Group (AIG) sought the protection of government ownership.

Sensible proponents of the mixed economy have never argued that privatization should be opposed in all cases. As circumstances change, government involvement in some areas of the economy becomes more desirable, in others less so. But the idea that change should always be in the direction of greater private ownership deserves to be consigned to the graveyard of dead ideas.

Despite being spectacularly discredited by the global financial crisis, the ideas of market liberalism continue to guide the thinking of many, if not most, policymakers and commentators. In part, that is because these ideas are useful to rich and powerful interest groups. In part, it reflects the inherent tenacity of intellectual commitments.

Most importantly, though, the survival of these zombie ideas reflects the absence of a well-developed alternative. Economics must take new directions in the 21st century if we are to avoid a repetition of the recent crisis.

Most obviously, there needs to be a shift from rigor to relevance. The prevailing emphasis on mathematical and logical rigor has given economics an internal consistency that is missing in other social sciences. But there is little value in being consistently wrong.

Similarly, there needs to be a shift from efficiency to equity. Three decades in which market liberals have pushed policies based on ideas of efficiency and claims about the efficiency of financial markets have not produced much in the way of improved economic performance, but they have led to drastic increases in inequality, particularly in the English-speaking world. Economists need to return their attention to policies that will generate a more equitable distribution of income.

Finally, with the collapse of yet another economic “new era,” it is time for the economics profession to display more humility and less hubris. More than two centuries after Adam Smith, economists have to admit the force of Socrates’s observation that “The wisest man is he who knows that he knows nothing.”

Every crisis is an opportunity. The global financial crisis gives the economics profession the chance to bury the zombie ideas that led the world into crisis and to produce a more realistic, humble, and above all socially useful body of thought.