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financial crisis

NYT: How Did Economists Get It So Wrong? by Paul Krugman

New York Times: How Did Economists Get It So Wrong?
By Paul Krugman
http://www.nytimes.com/2009/09/06/magazine/06Economic-t.html?_r=2&pagewa...

"When it comes to the all-too-human problem of recessions and depressions, economists need to abandon the neat but wrong solution of assuming that everyone is rational and markets work perfectly. The vision that emerges as the profession rethinks its foundations may not be all that clear; it certainly won’t be neat; but we can hope that it will have the virtue of being at least partly right. "

The New Yorker: Cocksure -- Banks, battles, and the psychology of overconfidence, by Malcolm Gladwell

Cocksure -- Banks, battles, and the psychology of overconfidence
By Malcolm Gladwell
http://www.newyorker.com/reporting/2009/07/27/090727fa_fact_gladwell?pri...

... the first wave of postmortems on the crash suggests a third possibility: that the roots of Wall Street’s crisis were not structural or cognitive so much as they were psychological. ...

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