Monthly Archives: September 2009

Paul Krugman on the state of macro

A great (and very accessible to the non-technical audience) summary of what the differences between saltwater and freshwater economics are all about… The original is here.

September 6, 2009

How Did Economists Get It So Wrong?

By PAUL KRUGMAN

I. MISTAKING BEAUTY FOR TRUTH

It’s hard to believe now, but not long ago economists were congratulating themselves over the success of their field. Those successes — or so they believed — were both theoretical and practical, leading to a golden era for the profession. On the theoretical side, they thought that they had resolved their internal disputes. Thus, in a 2008 paper titled “The State of Macro” (that is, macroeconomics, the study of big-picture issues like recessions), Olivier Blanchard of M.I.T., now the chief economist at the International Monetary Fund, declared that “the state of macro is good.” The battles of yesteryear, he said, were over, and there had been a “broad convergence of vision.” And in the real world, economists believed they had things under control: the “central problem of depression-prevention has been solved,” declared Robert Lucas of the University of Chicago in his 2003 presidential address to the American Economic Association. In 2004, Ben Bernanke, a former Princeton professor who is now the chairman of the Federal Reserve Board, celebrated the Great Moderation in economic performance over the previous two decades, which he attributed in part to improved economic policy making.

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Disabling RSS in WordPress

In some instances, it is desirable to disable generation of RSS feeds by WordPress.  Akuna Matata presents a simple solution to this problem.  Just add the following to your theme’s functions.php:

/**
 * Disable Our Feed Urls
 */
function disable_our_feeds() {
	wp_die( __('<strong>Error:</strong>' . 
		'No RSS Feed Available, ' . 
		'Please visit our <a href="'. 
		get_bloginfo('url') . 
		'">homepage</a>.'));
}

add_action('do_feed', 'disable_our_feeds', 1);
add_action('do_feed_rdf', 'disable_our_feeds', 1);
add_action('do_feed_rss', 'disable_our_feeds', 1);
add_action('do_feed_rss2', 'disable_our_feeds', 1);
add_action('do_feed_atom', 'disable_our_feeds', 1);