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Carmen M. Reinhart Letter to Paul Krugman Carmen Reinhart | Minos A. Zombanakis Professor of the International Financial System, John F. Kennedy School of Government, Harvard University
This whole sovereign debt argument is ridiculous since a monetary sovereign should NEVER borrow in the first place. To do so is to waste the sovereign's ability to create money without price inflation on welfare for the rich and the banks!
They have a complete lack of humility and remorse and have not taken responsibility for their actions. They get defensive, indignant and refer their own body of work as evidence for the veracity of their work even though they have been found to have lied, faked data, made gross errors, cost trillions in damage and injured millions. They blame the users of their publications for USING the erroneous conclusions -- the users are being opportunistic. And then they accuse their critics of dishonesty. WOW!
Harvard, normally zealous in promoting academic integrity among their students, should rein in these ego-maniacs; They should sanction them in some way for the academic dishonesty and sloppy work. It would send a better message if they outright fired them. I see no reason they should not have to struggle and find new placement at a lesser institution where they might be able to rebuild their reputations over years.
4 comments:
This whole sovereign debt argument is ridiculous since a monetary sovereign should NEVER borrow in the first place. To do so is to waste the sovereign's ability to create money without price inflation on welfare for the rich and the banks!
Americans seem to be addicted to the cult of personality.
Reality? Not so much.
They have a complete lack of humility and remorse and have not taken responsibility for their actions. They get defensive, indignant and refer their own body of work as evidence for the veracity of their work even though they have been found to have lied, faked data, made gross errors, cost trillions in damage and injured millions. They blame the users of their publications for USING the erroneous conclusions -- the users are being opportunistic. And then they accuse their critics of dishonesty. WOW!
Harvard, normally zealous in promoting academic integrity among their students, should rein in these ego-maniacs; They should sanction them in some way for the academic dishonesty and sloppy work. It would send a better message if they outright fired them. I see no reason they should not have to struggle and find new placement at a lesser institution where they might be able to rebuild their reputations over years.
Well said, Ryan.
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