by Guinandra Jatikusumo

Respected economists don’t always argue via working papers or mathematical models. Remember the drama between Professor Rogoff & Stiglitz in 2002? These are my favorite lines.

“The laws of economics may be different in your part of the gamma quadrant, but around here we find that when an almost bankrupt government fails to credibly constrain the time profile of its fiscal deficits, things generally get worse instead of better.”

“If only you had crossed over 19th Street from the Bank to the Fund a little more often, Joe, maybe things would have turned out differently.”

Read the full open letter here.