90-5-427
What about trying to fix it? Here the financial crisis has blown apart the fragile consensus between purists and Keynesians that monetary policy was the best way to smooth the business cycle. In many countries short-term interest rates are near zero and in a banking crisis monetary policy works less well. With their compromise tool useless, both sides have retreated to their roots, ignoring the other camp's ideas. Keynesians, such as Mr Krugman, have become uncritical supporters of fiscal stimulus. Purists are vocal opponents. To outsiders, the cacophony underlines the profession's uselessness.
Add these criticisms together and there is a clear case for reinvention, especially in macroeconomics. Just as the Depression spawned Keynesianism, and the 1970s stagflation fuelled a backlash, creative destruction is already under way. Central banks are busy bolting crude analyses of financial markets onto their workhorse models. Financial economists are studying the way that incentives can skew market efficiency. And today's dilemmas are prompting new research: which form of fiscal stimulus is most effective? How do you best loosen monetary policy when interest rates are at zero? And so on.
But a broader change in mindset is still needed. Economists need to reach out from their specialised silos: macroeconomists must understand finance, and finance professors need to think harder about the context within which markets work. And everybody needs to work harder on understanding asset bubbles and what happens when they burst. For in the end economists are social scientists, trying to understand the real world. And the financial crisis has changed that world.

A. 어휘
fix 수리하다. financial crisis 금융위기. blow apart 폭발시켜 흩어버리다.
blow-blew-blown 폭발시키다, 바람이 불다. apart 산산이, 따로따로.
fragile 깨지기 쉬운. consensus 합의, 일치. purist 순수주의자.
monetary policy 금융정책. business cycle 景氣循環(경기순환). interest rate 이자율. compromise 타협. retreat 후퇴하다, 퇴각, 隱遁處(은둔처).
Krugman 2008년도 노벨상(경제학)수상자. uncritical 무비판적. fiscal 재정적인.
vocal 소리내는, 목소리의. opponent 반대자. cacophony 불협화음.
profession 公言(공언)〈케인즈 학파와 비케인즈 학파의 타협선언〉.
the Depression 1930년대의 세계경제 대공황. spawn ...을 생기게 하다, 알을 낳다.
fuel 연료를 주입하다. backlash 반발, 반동. bolt 볼트로 죄다.
workhorse 내구력이 있는 기계, 부지런히 일하는 사람, 일말.
workhorse models 미국 항공기제작회사 McDonnell Douglas가 제작한 여객기〈본문에서는 경제모델을 의미〉
skew 조정하다, 구부리다, 억지로 갖다 붙이다. efficiency 유능, 능률.
prompt 재촉하다, 자극하다. mindset 정신자세. specialised silos 배타적 전문분야.
asset bubble 자산거품.

B. 구문
- Central banks are busy . . . onto their workhorse models.
[各國(각국)의 중앙은행은 금융시장분석결과를 自國(자국)의 경제모델에 적용하느라고 바쁘다.]