mani interesē kāpēc (ok in English: I think discussion of the frame within which these issues are discussed have been set by mainstream economists who are acting as lawyers as opposed to academics. There is also among these people a heavy importance in appearing rational and objective, which gives their utterances an undeserved weight among those who (like yourself, it seems to me) value rational thought. I think this is interesting.

OK, about the lawyer vs academic point. Read Vjačeslavs Dombrovskis or Morten Hansen's blogs, and you will see almost solely a criticism of the Latvian government(s), and hardly anything on the actions of the financial sector (Dombrovsksis may have offered a couple of sentences on it in one blog). These commentators, however, are valued as independent analysts and commentators.

(Reply to this) (Parent) (Thread)

I think what you say is quite true.

Economics is definitely the sphere where I just have to raise my hands and say: guys, I sure hope YOU know what you are talking about, because I certainly don't.

And it is certainly true that I have an irrational liking for rationally put thought. Maybe it is not that irrational though, since, if something is put rationally, I think I have a greater ability to have a stab at its validity.

I mean -- whoever is economist, if he says: I think A,B,C, because X,Y,Z, then there will be at least a meager chance I have some ability of evaluating X,Y or at least Z myself.

However, I actually do not have the ability (or even time) to investigate Z alone, not to speak of X and Y! Nevertheless, he sort of earns a nod from me. Ridiculous, when you think of it. :)

Of Dombrovskis et Hansen -- I've never looked at it from this perspective (neither do I follow their blogs though, just read the 1 or 2 articles, which appeared at height of uncertainty) -- so that's a very interesting point to me as well, thanks a lot.

P.S. I am not so sure about Hansen though -- wasn't he the one who was kind of warning Latvians back in 2006 (or maybe even 2005) about the housing bubble? I definitely read an SSE professor attacking it back then, in Diena, but was it Hansen or some other fellow with a similar kind of name?

(Reply to this) (Parent)