>>
>>And suppose the next recession in the US will conincide with giant economic
>>and political turmoils in Asia + Russia?
>
>That would be the downside of the New Paradigm that Wall Street and its
>house intellectuals love to celebrate - the late 19th century with fiber
>optics.
I've seen the New Paradigm referred to fairly often, but I've never heard of anyone actually espousing it. Are there actually any economists who believe it?
In the course of reporting some macroeconomical article last year, I spoke to the chief economists at a few Wall Street firms, and even they thought it was kind of a wacky idea. But maybe I was looking in the wrong places, or talking to the wrong people.
jf