Tweet Tweet­Not only did the glob­al finan­cial cri­sis catch the vast major­i­ty of econ­o­mists com­plete­ly unawares, they instead expect­ed tran­quil and even buoy­ant times just as the biggest eco­nom­ic cri­sis since the Great Depres­sion began. My favourite such obser­va­tion is from the OECD’s Eco­nom­ic Out­look for June 2007—in which the … Con­tin­ue read­ing 1,000,000 econ­o­mists can be wrong: the free trade fal­lac­i­es