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How to avoid recession in USA: Greg Mankiw’s answer. Gary Becker and Richard Posner advocate a similar perspective (the argument is centered, of course, on the subprime housing mess). Former Fed boss Greenspan already said that one should do absolutely nothing and wait for the bubble to break on its own, just as the people above (e.g.
Category: economics
Econlinks for 21-12-’07
- Larry Summers on the state of the US economy, a 19th of Dec speech (PDF, 8 pages). The gist is that he recommends fast and aggresive monetary and fiscal stimulus (the latter, mainly through tax cuts), just like (but more detailed than) Martin Feldstein, see my previous post on that.
Best phrase I’ve read today
→ 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.
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.