David Leonhardt regularly contributes economic articles to the New York Times in his column called ‘Economic Scene’. Today’s is very useful because it continues the discussion over the proposed bailout of the ‘Big Three’ auto makers. Here it is: Economic Scene – Figure Skews Debate of a Bailout for Detroit – NYTimes.com Apart from the […]

Many of you have asked me recently why I think it is wrong to bail out GM, but OK to help Citibank. This is why: The answer revolves around the difference between the financial system and the auto industry. The financial system is a vast and sprawling part of the economy. It is also the […]