"This time is different" is the title of a contentious book by Carmen M. Reinhart and Kenneth S. Rogoff (2011). For fully seven years, an accumulation of adverse effects has been grounding international businesses, countries and their politics, mostly in Europe. Some of the disastrous...

As an immediate reaction to the recent financial crisis, it has been criticized that many economists are still acting as economic advisers for Ministries or the bureaucracy, although they have not been able to foresee the crisis . Academic economists still hold central positions in policy...