The global economy is still reeling from the Financial Crisis of 2008. The Crisis came out of nowhere and many economists never saw it coming. The New York Shock Exchange, a financial literacy program Ralph Baker started in 2006 for his 11 year old son and other boys his age, was actually blogging about the next recession. The Shock Exchange saw poor economic headwinds and the pending storm. Mr. Baker turned those findings into a book, Shock Exchange: How Inner-City Kids From Brooklyn Predicted the Great Recession and the Pain Ahead. However, the mainstream media, including the Financial Times, refuses to admit the Shock Exchange foretold the Crisis:
Martin Sandbu’s Free Lunch: Rethinking macroeconomics https://t.co/0HBD4tngWN
— Financial Times (@FT) January 15, 2018
As part of Sandbu’s Free Lunch series with the Financial Times, he suggested no economists predicted the Financial Crisis, and we need to rethink macroecocnomics.