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econlog.econlib.org - 9/25/2009
My Bizarre Monetary Theory, Continued
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(September 22, 2009 08:32 AM, by Arnold Kling) Before I respond to Bryan's comments, let me first recommend the two Scott Sumner papers that he mentions. This paper develops a theory that cultural values drive economic policy, which in turn drives economic outcomes. It is an interesting ...
econlog.econlib.org - 10/1/2009
Morning Commentary
— econlog.econlib.org — (October 1, 2009 08:40 AM, by Arnold Kling) Most of these are links in posts by Mark... Thoma. Richard Robb says that letting Lehman fail really did cause big problems. However, he concedes, There is plenty of room to debate the larger counterfactual: if ... (more) Morning Commentary

Comments vote down Marginal Revolution found this 10/1/2009found this
krugman.blogs.nytimes.com - 9/29/2009
The 4 percent solution
— krugman.blogs.nytimes.com — If we get real health care reform AND we get a sane political scene the long-term fiscal... outlook is serious but not scary. (more) The 4 percent solution

Comments vote down Economist's View found this 9/29/2009found this
Household debt, consumption and wealth
fatasmihov.blogspot.com - 9/22/2009
Household debt, consumption and wealth
— fatasmihov.blogspot.com — It is very common these days to hear that the global economy has no way of recovering... because the most powerful engine of global demand – the American consumer – is choking in debt. US household debt has reached $14 trillion in 2009, or 100% relative ... (more) Household debt, consumption and wealth

Comments vote down Economist's View found this 9/22/2009found this

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Marginal Revolution:  Scott Sumner's visit

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Scott Sumner's visit
Marginal Revolution — ... secondary?  Which came first?  Which has a higher marginal product of destruction without the other?  Which explains more pieces of data?  Something else?  I am inclined to call the real shocks primary and the secondary deflation...well...secondary.  Scott portrays the deflation (he doesn't call it the "secondary deflation," as I do) as the primary problem. Arnold Kling posts on these questions here and here.  In Arnold's terminology I see the Fed as controlling nominal gdp but not always ...

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