I don't know much about academic publishing so I'm probably missing some of the subtleties here but this certainly seems to be a situation I would have played differently. It's late 2008 and you're putting the finishing touches on a paper asking how so many American economists could have failed to see what a great idea the Euro was. Given the events outside your window, don't you think you would have dragged your feet a bit on the submission, or at least hedged your wording a bit?
Apparently these guys didn't. (via Krugman)
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