Leave that Economics ROAD to ITSELF

Economics has become the shaky science; its intellectual chaos provides context for today's policy disputes at home and abroad.

There's a great deal economists don't understand. Not surprisingly, the adherents of "rational expectations" -- a theory that people generally figure out how best to respond to economic events -- didn't anticipate financial panic and economic collapse. The disconnect between theory and reality seems ominous. The response to the initial crisis was to throw money at it -- to lower interest rates and expand budget deficits. But with interest rates now low and deficits high, what happens if there's another crisis?