Interesting. ... While some fret about liquidity-driven inflation, Justin Lin, World Bank chief economist, said the greater danger is that record levels of idle plant almost everywhere will feed a downward spiral of job cuts and corporate busts. "I'm more worried about deflation," he said By holding the yuan to 6.83 to the dollar to boost exports, Beijing is dumping its unemployment abroad...
I reported the other day that Nobel laureate in economics Paul Krugman had not received an invite to President Obama's "Jobs Summitt" in early December. I now have an update from Anya Schiffrin, Joe Stiglitz's wife, who just emailed me (the email is real, we know each other): I saw your post mentioning Joe. We never saw an invitation. It is possible they sent one and it didn't get passed...
Telegraph | President Obama said before going to China this week that Asia can no longer live by shipping goods to Americans already in debt to their ears. "The inherent problems of the international economic system have not been fully addressed," said China's president Hu Jintao. Indeed not. China is still exporting overcapacity to the rest of us on a grand scale, with deflationary consequences....
The entire world is now pestering China over its currency policies, specifically its decision to peg the yuan at an artificially low level, rather than let it float higher. The latest is Ambrose Evans-Prichard at UK's The Telegraph , who basically accuses the country of playing havoc with the world economy and "exporting overcapacity to the rest of us on a grand scale." By holding the yuan...
China has now become the biggest risk to the world economy Far from taking over as the engine of growth from an exhausted West, China is making matters worse. Its "beggar-thy-neighbour" policies continue to play havoc with global trade and risk tipping the world into a second leg of the Great Recession. By Ambrose Evans-Pritchard Telegraph Published: 6:21PM GMT 15 Nov 2009 "The inherent...
President Obama recently announced he'll be holding a jobs summit in early December in order to get the best brains in economists and industry together to help figure out how to turn unemployment around faster. Two faces that absolutely need to be there are America's top two Nobel laureates in Economics, Joe Stiglitz and Paul Krugman. But Krugman already says he hasn't been invited . No word from Stiglitz....
Economists and author Steven Landsburg notes the economic ignorance displayed by a well-known NYT columnist: It’s always impressive to see one person excel in two widely disparate activities: a first-rate mathematician who’s also a world class mountaineer, or a titan of industry who conducts symphony orchestras on the side. But sometimes I think Paul Krugman is out to top them all, by excelling...
[Economists' Voice invited me to write this, and indicated that they liked it, but nonetheless it has languished in the editorial process, so the article premiers here. The Economists' Voice version will have the footnotes. For further, but still not exhaustive, recitation of economics errors in Professor Krugman's Sunday Magazine article, see here .] Should macroeconomists begin again, particularly...
...Before we all passed through the looking glass. I remember the days when being conservative didn't mean being cuckoo for coconuts. Ah well, the GOP played with fire for a long time, I suppose it was inevitable that the inmates would eventually take over the asylum. New Nobel laureate for economics Paul Krugman ponders what this might mean in the context of a Democratic party that has spent too much...
The headline comes from environmentalists Michael Shellenberger and Ted Nordhaus over at the Breakthrough Institute. The Breakthrough guys are calling out Center of American Progress climate bully, ah, blogger, Joe Romm. As background, Shellenberger and Nordhaus recite some of the details of Romm's inaccurate attack on the SuperFreakonomics proposal to research climate engineering as a back up plan...
Over at the ASI Tom Papworth has been taking on economist Paul Krugman. Below is the opening para, to whet your appetites and lure you in. Click here or at the bottom for the whole article. Take it away, Tom… Here is Nobel Laureate Paul Krugman on how to bring a major recession to an end: It took [...]
Stephen Dubner and Steven Levitt's SuperFreakonomics has certainly gotten a lot of people worked up in short order. The point of contention is a chapter about global warming which makes the case that Al Gore and others are too worried about the climate problem because the only way to solve it is to convince people to "put aside their self interest and do the right thing even if it's personally...
Michael Shellengerger and Ted Nordhaus have decided that the right thing to do is to stand up to a bully . Good for them. Here is an excerpt: What are the warning signs that one is dealing with a bully? Wiki names, "Quickness to anger and use of force, addiction to aggressive behaviors, mistaking others' actions as hostile, concern with preserving self image, and engaging in obsessive or rigid...
Reihan Salam bemoans Paul Krugman's latest attack on a right-ish economist, this time Krugman's fellow Nobelist Edmund Phelps. [Krugman] brings a valuable, informed perspective to...