16th January 2012
In response to the public criticism economists have faced since the financial crisis, Jonathan Portes explains three ways in which economists within government can do to make policy better. Here's one: "First, and perhaps most important, is to explain, in language which intelligent non-economists things which are true but not obvious." Not the Treasury view
The professor of economics discusses the contributions made by the Austrian School. He introduces recent books by Austrians, explains what we can learn from Mises and Hayek, and argues that economics is the sexiest subject. The Browser
Dani Rodik thinks the world economy is entering a new phase, whereby global leadership will remain in limited supply due to the increasing debt burdens and slow growth of big western economies. With that being the case, he outlines which kinds of policies should be coordinated globally, and which should be left largely to domestic decision-making processes. Project Syndicate
Some economists have claimed that the U.S. economy is less vulnerable to oil price shocks than it used to be. "Close down the Strait of Hormuz, and you'll get a good test of that theory." James Hamilton finds that previous episodes in which geopolitical events led to production shortfalls have been followed by a recession in the United States. Econ browser
Economic freedom in the United States continues to decline according to the latest Index of Economic Freedom (compiled by the Heritage Foundation) as reported today by Ed Feulner. The Wall Street Journal
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