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Six Refuted Doctrines *
Author(s) -
Quiggin John
Publication year - 2009
Publication title -
economic papers: a journal of applied economics and policy
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.245
H-Index - 19
eISSN - 1759-3441
pISSN - 0812-0439
DOI - 10.1111/j.1759-3441.2009.00027.x
Subject(s) - economics , great moderation , moderation , independence (probability theory) , financial crisis , positive economics , keynesian economics , macroeconomics , monetary economics , monetary policy , psychology , social psychology , statistics , mathematics
This article examines six widely‐held doctrines concerning economic theory and economic policy that have been refuted, or at least rendered highly problematic by the global financial crisis, namely: (i) the efficient markets hypothesis; (ii) the Great Moderation; (iii) central bank independence; (iv) trickle down; (v) the case for privatization; and (vi) individual retirement accounts.