A leading economist declared the pre-crisis consensus vindicated and its future bright.

Evidence

We have seen the triumph of sensible ideas and reaped the rewards in terms of macroeconomic performance. The costly wrong turn in ideas and macropolicy of the 1960s/70s has been righted, and the future of stabilization looks bright” (Romer, 2007, quoted in DeMartino, The Economist’s Oath, p. — Philip Mirowski, Never Let a Serious Crisis Go to Waste, 2061

Categorization

• CANDY: The irony — Romer’s triumphant declaration right before the greatest collapse since the Depression — is a pithy, tweetable example of hubris.
• XREF: connects to: IMF’s chief economist declared macroeconomics healthy right as the crisis peaked — Philip Mirowski, Never Let a Serious Crisis Go to Waste, 492

Broader Connections

• IMF’s chief economist declared macroeconomics healthy right as the crisis peaked #exemplifies (0.95) — Philip Mirowski, Never Let a Serious Crisis Go to Waste, 492