October 20
More on Superfreakonomics
Yoram Bauman suggests that the chapter on climate change in Steven Levitt's forthcoming book is misleading.
Textbook References:
Pages 34-36 “Why Economists Disagree”
Page 37 “Environmental Economics”
October 17
Battle of the Clark Medalists
Paul Krugman and Steven Levitt accuse each other of misrepresenting the truth.
Textbook References:
Pages 34-36 “Why Economists Disagree”
Page 37 “Environmental Economics”
May 13
Paul Krugman concedes
In a previous blog, Mankiw doubted that the economy would grow as fast as the administration predicted. Krugman agreed with the administration and called Mankiw evil. Mankiw asked Krugman if he would like to bet some of his Nobel Prize money on it. Krugman hasn’t responded. But Krugman has recently written that we cannot expect the economy to grow very fast at all. Pride goeth before the fall.
Textbook References:
Pages 32-33 “Why Economists’ Advice Is Not Always Followed”
Pages 246-247 “The Fiscal Challenge Ahead”
Pages 589-593 “Policy 3: Government Budget Deficits and Surpluses”
Mar. 31
The Mess that is GM
David Brooks argues that GM has been “restructuring” for decades. It will take enormous political will to make it actually restructure.
Textbook References:
Pages 8-10 “Principle 6: Markets Are Usually a Good Way to Organize Economic Activity”
Pages 10-12 “Principle 7: Governments can Sometimes Improve Market Outcomes”
Pages 30-34 “The Economist As Policy Advisor”
Mar. 22
Heckuva Job, Larry
Frank Rich criticizes the Obama administration’s response to the crisis, with special attention given to Laurence Summers.
Textbook Reference:
Pages 30-34 “The Economist as Policy Adviser”
Mar. 3
The CEA on its Forecast
The Council of Economic Advisors defends its forecasts from common criticisms.
Textbook References:
Pages 30-33 “The Economist as Policy Advisor”
Pages 34-36 “Why Economists Disagree”
Feb. 27
Rosy Scenario or Audacity of Hope?
Obama’s budget forecast depends on some extremely optimistic assumptions.
Textbook References:
Pages 32-33 “Why Economists’ Advice Is Not Always Followed”
Pages 246-247 “The Fiscal Challenge Ahead”
Pages 589-593 “Policy 3: Government Budget Deficits and Surpluses”
Moving the Goal Posts
The Committee for a Responsible Budget believes that Obama’s budget contains absurd assumptions.
Textbook References:
Pages 32-33 “Why Economists’ Advice Is Not Always Followed”
Pages 246-247 “The Fiscal Challenge Ahead”
Pages 589-593 “Policy 3: Government Budget Deficits and Surpluses”