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IMF: The Lasting Effects of Financial Crises
Earlier this week, the IMF released a key chapter from the upcoming World Economic Outlook: Chapter 4: What’s the Damage? Medium-Term Output Dynamics After Financial Crises. As noted in the much...
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A List of the Top 50 Economic Theories
Last year, the Ivy Press asked me to help them with a popular book about the 50 most important economic theories. My primary task was assembling the top 50 list (assisted by suggestions from my...
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Free Brookings Papers on Economic Activity
Earlier today the fine folks at Brookings announced that they have made all past and current issues of Brookings Papers on Economic Activity free. You can find them here. Some specific papers that...
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What Should Economics Do in the Next Decade?
Over at Economic Principals, David Warsh summarizes 55 short papers about the big questions that face economics. Among the suggestions: Most popular of the pitches, judging from the number of SSRN...
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Why Many Economists Favor Immigration
In today’s New York Times, Greg Mankiw offers a nice explanation for why many economists favor immigration: First, many economists, especially conservative ones, have a libertarian streak. Ever since...
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The Egalitarian, Cosmopolitan Core of Economics
Economists are often criticized for a worldview that emphasizes, and sometimes encourages, selfishness. In today’s NYT, Tyler Cowen highlights another, less-discussed aspect of that worldview, its deep...
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Should Economists Pay More Attention to Politics?
Economists often ignore politics when analyzing policy issues or view politics as a problem to overcome rather than as fundamental. When evaluating a carbon tax, for example, I try to tote up its...
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Rajan’s “The Paranoid Style in Economics”
Raghuram Rajan, soon to be India’s chief central banker, has an excellent piece today dissecting “The Paranoid Style in Economics” and counseling humility for folks engaged in economic policy. A short...
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Why Do Economists Have a Bad Reputation?
Because macroeconomists have messed it up for every one else , says Noah Smith at The Week: To put it mildly, economists have fallen out of favor with the public since 2008. First they failed to...
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Keynes Was Right. Economists Should Aspire To Be Like Dentists
In a lengthy piece on “The Future of Jobs“, the Economist cites some estimates of the risk that IT will eliminate jobs over the next 20 years: So Keynes was right: Economists should aspire to be like...
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