Economist's View: Paul Krugman: The Big Meltdown
Paul Krugman, looking back to today from March 2, 2008, analyzes the recent drop in U.S. stock prices and what it might mean for our economic future: The Big Meltdown, by Paul Krugman, Commentary, NY Times: The great market meltdown of 2007 began exactly a year ago, with a 9 percent fall in the Shanghai market, followed by a 416-point slide in the Dow. But as in the previous global financial cris
Economist's View: Janet Yellen: The Asian Financial Crisis Ten Years Later
Janet Yell, president of the San Francisco Fed, with an interesting discussion of the Asian financial crisis: The Asian Financial Crisis Ten Years Later: Assessing the Past and Looking to the Future, by Janet Yellen, President, FRBSF: Good afternoon. ... This is the first in a series of presentations, seminars, and conferences the San Francisco Fed will be involved with over this year as we explor
Economist's View: China and the Trade Deficit
Yesterday Michael Spence, the 2001 Nobel laureate in economics, a senior fellow at the Hoover Institution, and a professor emeritus at Stanford University discussed out trade deficit with China. Here's what he had to say followed by the reactions of Brad DeLong and Brad Setser. First, the editorial: We Are All in It Together, by Michael Spence, Commentary, WSJ: In 2005, the People's Bank of China
Economist's View: Milton Friedman: Why Money Matters
The publication date, November 17, 2006, on this commentary from Milton Friedman appearing in the Wall Street Journal is correct. Here's part of the accompanying editorial: Capitalism and Friedman, Editorial, WSJ: There are some public figures whose obituaries can be written years in advance. Milton Friedman was not one of them. ... He died yesterday at the age of 94, but as the op-ed running near
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Economist's View: Paul Krugman: Edwards Gets It Right