While I agree with those who argue that we need less government spending rather than higher tax rates, their game of chicken over the debt ceiling makes me very nervous. I’m afraid the other side will win by doing nothing, even though win is not the right word. What we need is something I’ll call [...]
Chairman Bernanke Told Us So The December estimates brought inflation down to zero. Well, the CPI actually increased one tenth of one percent from December 2007 to December 2008. That's close enough for government work. The core CPI increased 1.8 percent over that period. The PPI for finished goods declined 0.9 percent over the past [...]
One of the common fallacies in economics is the fallacy of composition. What's true for you and what's true for me may not be true for all of us together…. This is from my latest blog article in the New York Times. To see more visit here.
The New York Times has asked me to participate in a new blog, Economix, and my first posting appears today. In it I argue for a more narrow view of moral hazard in the context of the current financial crisis. You can read it here. If all goes as currently planned, I will have a post [...]