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New classical economics should not be judged based upon what theorists say today about the 2008-2009 crisis, but instead by looking at what economists like Casey Mulligan said as the crisis was unfolding.  Once scrutiny is given to what new classical economics lead adherents believe in late 2008, Robert Barbera wonders how any rational thinker could continue to defend the framework.

If It Were a Fight, They Would Have Stopped It in December of 2008