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CNBC had three Nobel winners on Friday morn -- Joseph Stiglitz, Robert Engle and Edmund Phelps -- discussing Housing, Credit, and the state of the US economy.  It was terrific television, and showed how good the medium can be when it sets its mind on it.

Incidentally, longtime ...

It would be safe to say that Jamie Galbraith's view of modern monetary theory differs from mine:

The Collapse of Monetarism and the Irrelevance of the New Monetary Consensus, by James K. Galbraith: Twenty-five years ago, on a brilliant winter day at Alta, I stepped off the top of the ...

Nicholas Kristof’s column in the New York Times today, “Better Roses than Cocaine,” says it all.   There is no good reason to oppose the free trade agreement with Colombia that has been held up in the US Congress.   

Free trade with Colombia can’t have anything to do with loss of US jobs:   Colombia’s exports ...

Whenever I teach growth theory, I like to compare the Canadian experience with that of Argentina. Up until the 1930's, the two countries followed very similar paths: foreign investment financing the development of resource-based economies. But then the 1930's happened, and Canada and Argentina parted ways.

This is the best graphical ...

West Texas Intermediate closed today above $115/barrel. Does that reflect changes in the fundamentals of world supply and demand? My answer is no.

Rarely do you see a country where the mood among business people tells such a different story than the statistics.  Now, in Argentina there are statistics are then there are damn lies--inflation figures are made up--but the broad contours of the economic performance of the last few years are not ...

What were economists saying about housing bubbles and regulation of mortgage markets nearly three years ago? I just came across this post from Jim Hamilton from June 18, 2005:

Another argument that's sometimes raised (for example, by Kash at Angry Bear) is that some of the buyers of homes at ...

In a nutshell, foreigners and empirical work:

This short paper collects and studies the CVs of 112 assistant professors in the top-ten American departments of economics. The paper treats these as a glimpse of the future. We find evidence of a strong brain drain. We find also a predominance of empirical ...

According to a small but powerful group of America's financial decision-makers—mostly supply-siders and those in their thrall—the chief cause of the credit market meltdown is not folly, or reckless lending, or the demise ...