5Vote!
SeekingAlpha.com (Free subscription) | 11/09/2009
I've been hard-put to recommend an economics book aimed at the layman, because I don't read many of them myself. However, here's a wholehearted recommendation: Russ Roberts's The Price of Everything . The book is written as a novel, though with lots of didactic conversations. The book conveys very well how the economy really works . I confess that as a young professor, I emphasized the...
5Vote!
Aguanomics (Free subscription) | 11/04/2009
(via CC) Russ testifies [link goes to 3-4 minutes of video] in front of a congressional committee on executive compensation. Here's more: In this Testimony , Prof. Roberts explains that the problem with executive compensation is that executives have not been subject to the profit and loss cosequences of the free-market system. Profits encourage risk-taking, and the losses encourage prudence....
+Vote!
Say Anything (Free subscription) | yesterday
Russ Roberts puts succinctly the genesis of the subprime mortgage market and the financial mess we’re in now: I used to think that Wall Street innovation was part of our prosperity because the innovation made markets more efficient. But that only works when firms face profits and losses. When losses are truncated by bailouts, you get anti-social risk-taking. You get a cycle not...
5Vote!
Businomics Blog (Free subscription) | 11/09/2009
I've been hard put to recommend an economics book aimed at the layman, because I don't read many of them myself. However, here's a wholehearted recommendation: Russ Roberts's The Price of Everything. The book is written as a novel, though...
7Vote!
EconLog (Free subscription) | 11/09/2009
... growth in nominal GDP. Read Sumner's whole post, and/or listen to a new podcast with Sumner and Russ Roberts.
7Vote!
EconTalk (Free subscription) | 11/09/2009
(November 9, 2009 06:30 AM) Scott Sumner of Bentley University and the blog The Money Illusion talks with host Russ Roberts about monetary policy and the state of the economy. Sumner argues that tight money in late 2008 precipitated the recession. He argues that the standard measures of monetary policy--growth in reserves or the Federal Funds rate--are misleading. Sumner suggests focusing...
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7Vote!
EconLog (Free subscription) | 11/08/2009
... the expected cost to the government is still very modest. In his recent Podcast interview with Russ Roberts, Charles Calomiris reveals something interesting that has been almost loss down the memory hole. Almost. Calomiris points out that Joe Stiglitz, Jonathan Orszag, and Peter Orszag were hired by Fannie Mae to write a paper in 2002 defending the claim that the odds of Fannie Mae...
5Vote!
SCSUScholars (Free subscription) | 11/06/2009
... industry. Congress' answer? Keep more first-time homebuyer credits flowing . Damn the pusher man. Russ Roberts asked if we were smart to throw them $200 billion back in February. At the rate they're going Fannie will burn through that in three years. $2000 from every household. And their financial modeler determining how to do those loan mods? Yup, Integrated Financial Engineering,...
5Vote!
Aguanomics (Free subscription) | 11/04/2009
... Delta or doctors, insurance companies and pharma trying to affect healthcare legislation. In 2006, Russ Roberts and Mike Munger discussed all-pay-auctions, public choice, rent-seeking and lobbying. (They even get into Mancur Olson's Logic of Collective Action !) Listen to it. Bottom Line: Politicians benefit from working on problems, not solving them.
