en-uk Tue, 30 Oct 2007 15:37:29 GMT Copyright 2007 Times Newspapers Ltd. custserv@timesonline.co.uk http://www.timesonline.co.uk Sat, 07 Nov 2009 04:10:12 GMT Newspapers 144 21 http://www.timesonline.co.uk http://images.thetimes.co.uk/TGD/picture/0,,116979,00.gif Anatole Kaletsky Wed, 28 Oct 2009 00:01:00 GMT 2009-10-27T09:07:40Z One of the few benign consequences of last year’s financial crisis was the exposure of modern economics as an emperor with no clothes. In February I argued that economists deserved as much blame as bankers, regulators and politicians. Quite a number of others, including Nobel laureate economists, made the same point that economics had to be urgently reinvented. These ideas have borne fruit much sooner than anyone expected with yesterday’s announcement of an Institute for New Economic Thought.