The Financial Industry's Influence on the Study of Economics

Since the 1980s academic economists have been major advocates of deregulation and played powerful roles in shaping u.S. government policy very few of these economic experts warned about the crisis. Even after the crisis many of them opposed reform. Business school professors don't live on a faculty salary they do very very well over the last decade the financial services industry has made about five billion dollars worth of political contributions in the United States.