Revisiting Recession

No sooner had I posted my note on recession over the weekend than I got a message from my friend and colleague Christopher Holmes Smith on, yes, the recession and the fraught economic times that we confront. I’m posting this because Chris makes some typically insightful points, and because in a fit of pique I supposed, I went into a fair bit of detail on some of the points that I touched on in the previous post. I hope this further illuminates what’s going on. Special thanks to the redoubtable Joshua Wallman for his prodding and conversations on economic matters.... Read more →

Recession as Taboo

Because I’m an economist, my buddies call me and ask me about what the hell is going on with the economy these days. My partner on That's Capital Jonathan calls me. My pal Carroll Parrot Blue calls me. My buddy Lori Fontanes calls me. Steve Kramer. Gene Carl. It’s nice that folks keep in touch. But I tell them my best guesses. I also include a caveat: I’m not that kind of economist. I’m a microeconomist, not a macro-economist; this is outside of my area of expertise. But since folks keep calling, I thought I’d include my current take on... Read more →