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Journalists, Economists, and Historians

   Guess who has the last word?

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DURHAM, N.C. – Economic Principals is traveling, participating in a conference on one of its favorite topics – the relationship between professional economics and the news business.  A few durable themes stand out. One is the susceptibility of market systems to manias, panics, and crashes. The most interesting draft paper presented here goes back to the beginnings of modern times to ask, what did London newspapers know, and when did they know it, about the disaster we know today as the South Sea Bubble. In “British Lions Crouched to a Nest of Owls,” Carl Wennerlind, of Barnard College, describes the