Paul Krugman won the Nobel Prize for Economics this year. He advocates the use of massive government spending, similar to the 1930s New Deal policies implemented by Franklin Roosevelt, to address our current economic problems.
Amity Shales is the author of "The Forgotten Man: A New History of the Great Depression," published last year. She makes the case that Roosevelt's policies were very counter-productive and made the depression worse than it otherwise would have been.
This article is a good overview of an issue that will be extremely important in the coming months and years.
"The forces of the market are just that: They are forces; they are like the wind and the tides; they are things that if you want to try to ignore them, you ignore them at your peril, and ... if you find a way of ordering your life that is compatible with these forces, indeed which harnesses these forces to the benefit of your society, that's the way to go." -- Arnold Harberger, University of Chicago Economist
Saturday, November 29, 2008
Thursday, November 27, 2008
Mad Max and the Meltdown
Daniel Henninger, assistant editor of the editorial page of the Wall Street Journal, argues that there's a connection between the secularization of Christmas (taking Christ out of Christmas) and the financial meltdown we are experiencing.
Saturday, November 22, 2008
How to Help People Whose Home Values Are Underwater
This is an interesting idea put forth by Martin Feldstein. He was chairman of Reagan's Council of Economic Advisors for several years. The goal of his plan is to get the credit markets working again by stabilizing the housing market. It would also enable many borrowers to avoid foreclosure. If it worked as he hopes it would (big if), it would cost the government a lot less than other plans that may be tried.
Wednesday, November 5, 2008
Monday, November 3, 2008
Sunday, November 2, 2008
"A Demon of Our Own Design"
Audio of an in-depth interview with Richard Bookstaber, author "A Demon of Our Own Design: Markets, Hedge Funds, and the Perils of Financial Innovation."
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