Governments response to the economic crisis.

DaSilva

No, no politics I swear. This is more a general question of economist's views, and not a discussion of the responses themselves.

I'm wondering if the Governments responses (bank bailout, NAMA, now Irish bailout, etc.) to the crisis reflects the views or consensus of the economic community?

I know you guys view many of the economists on TV as not really being economists, so I don't mean them then.

Time Magazine

DaSilva wrote: »

I'm wondering if the Governments responses (bank bailout, NAMA, now Irish bailout, etc.) to the crisis reflects the views or consensus of the economic community?

No, they didn't. The consensus among economists, to the extent that one existed, was closer to Morgan Kelly than to Brian Lenihan.

silverharp

then again the ESRI view with Alan Barrett et al, while they tut tuted the bank bailout, always said it was manageable. Compared to the climate guys, the consensus was "it might rain a bit"

Time Magazine

When I refer to "consensus", I mean the petitions sent to the Irish Times, etc. Most everybody was against (is still against) the blanket guarantee. I think it's fair to say that there was a consensus that nationalisation was a better option than NAMA in its current form.