... his life has been well documented in newspapers and maga-zines: While at the IMF, he was on the front lines during the Mexicancrisis, the Russian crisis, the Asian crises, and many others. ... understoodsince the days of Adam Smith. That is why people worked on growththeory for so long. The other proposition is that recessions don’t reallymatter because the loss of consumer surplus ... psychology.But, on the other hand, economists, such as Milton Friedman, seemedto assume that is the only thing one could do with surveys, and to adviseinstead that economists should rely exclusively on...