The two groups share a common perspective, a preference for thinking along similar lines. Krugman describes this well, as a "desire for an all-encompassing, intellectually elegant approach that also gave economists a chance to show off their mathematical prowess." Exactly so. It was in part about elegance--and in part about showing off. It was not about ... the economy. It was not a discussion of problems, risks, dangers, and policies. In consequence, the failure was shared by both groups. This is the extraordinary thing. Economics was not riven by a feud between Pangloss and Cassandra. It was all a chummy conversation between Tweedledum and Tweedledee. And if you didn't think either Tweedle was worth much--well then, you weren't really an economist, were you?
