Interesting Links - Economics Version
This first is an interview with economist Nouriel Roubini. Wow, Roubini must be a lot of fun at a party. He probably sits in the corner brooding, and occasionally ranting, “It’s all going to fail, don’t you understand? We’re all doomed!”. Whereupon the hostess walks him quietly out of the room, pats him on the back and gives him another drink and gets the music going again. (I think Greenspan played the hostess role in real life for a while there.) However it’s useful to read his stuff and nice to know that some people were aware of the potential problems even if they couldn’t get anyone to listen. See Steps to Halt the Slide. (Thanks to CDB for the link.)
Two other interesting links from the same site are: Long-Term Implications of the Financial Crisis and Grasping ‘Radical’ Economic Change.
The WSJ says that “Government is Contributing to the Panic” and that markets should do their “messy work”, while others say that the market economy doesn’t work at all. As usual, I suspect the truth lies in between.
And, congratulations to Paul Krugman on his Nobel Prize recognition. I should read up on economic geography and international trade - it’s come a long way since my economics classes!