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from BUSINESS LINE, June 10, 2009 There are two ways in which people who crave attention behave: they either say 'no' to everything, or they make startling announcements. Both methods work wonderfully well, especially in the make-believe world of economists.
Given how crowded it has become, and because no one really cares if an economist says no, many of them have taken to the latter modus operandi. They say things designed to make heads turn around.
Now, the last 10 articles in this series have sought to show how economics has lost its way. The rest of it will focus on how economists seek to draw attention to themselves. The articles will rely on what passes for research in modern economics. So, bon aperitif.
Let us start with …