Having taken last week off I return today and find the economy not much changed from a week ago! In other words things are still grim. Already there has been an outbreak of right wing chatter that attempts to paint Obama’s victory as too modest and restricted to amount to a mandate for dramatic change. […]

The irony in today’s news is that just as the economy is declining into what will probably be a nasty recession, there are the first flickers of hope that the worst case scenarios everyone has been playing with – depression era stuff – are almost certainly now not going to happen. Here’s the New York […]

I can’t let this go by. Today’s New York Times has the following article by Greg Mankiw: Economics View-But Have We Learned Enough? NYTimes.com The article is fine. It’s the implication I want to bring to your attention. He concludes with some sobering words about the ability of the economics profession to understand … the […]