→ Read moreAs a protest vote, Ron Paul seems fine, but hearing him or reading about him just makes me depressed. A good rule of thumb is not to get too excited about any candidate whose actual election would make the Dow lose thousands of points.
Category: economics
Miorita si consumatorul-rege
Unul din cele mai bune articole citite recent in presa autohtona: Catalin Sturza cu “persoana a doua plural” (in paranteza fie spus, Catalin Sturza e unul dintre foarte putinii insideri mass media de la noi care scrie bine de obicei, deci va recomand sa-l urmariti).
→ Read more Quote of the week 9th-15th of Dec ’07
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I start my class every year by saying, “These are models. And the reason we call them models is that they’re not 100 percent true. If they were, we would call them reality, not models.
Salivating over economics in public
Definitely the morning pill today. Couldn’t have phrased this better. From a self-defined “Ec10 slut” and necessarily via Greg Mankiw :-). The conclusion of this short article is useful to keep in mind as future reference, for everybody– both outsiders and insiders to economics:
→ Read moreWhen we use the tools that economics give us, we need to be sure that the complexity of the models we use match the complexity of the real world situations.
Econlinks for 13-12-’07
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An article by James Surowiecki on the subprime crisis and the “band-aid” Paulson (partial), J.P. Morgan-like, solution. This while Greenspan thinks the bubble should first break on its own (and certainly differs here from Martin Feldstein, who advocates for a fast, two-act intervention, see my previous post on that)
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Here’s a very interesting post of Andrew Gelman (based on this co-authored article of his) on whether the Democrats should move, as an electoral strategy, more to the left on the economic policy axis.