INET Executive Director Robert Johnson delivered a keynote address at the OECD Forum in Paristoday.
In anticipation of the conference, Johnson wrote an op-ed for French newspaper Les Echos on reforming the financial sector.
Quoting Nobel Laureate and INET Advisory Board member Joseph Stiglitz, Johnson reminds readers that, “Academic economists played a big role in causing the crisis. Their models were overly simplified, distorted, and left out the most important aspects.”
“Tired orthodox economic theories led to the creation of bad maps of financial behavior,” Johnson writes, and this led us to a financial crisis. What’s needed now is new economic thinking that works for real people and the real economy.
