Economist, Interrupted
First-magnitude stars of the generation of economists who began their work in the 1970s include Paul Krugman, Paul Romer, Lawrence Summers, Jeffrey Sachs, and, a late bloomer, Ben Bernanke. It was...
View ArticleThe Rivals
When Keynes died, in April 1946, The Times of London gave him the best farewell since Nelson after Trafalgar: “To find an economist of comparable influence one would have to go back to Adam Smith.” A...
View ArticleThe Scotchman Returns To The Model, Acuity Greatly Enhanced
Before continuing, let me take a moment to remind EP readers of why this serial assumed the form it has – a form that may at times have seemed wayward. My aim all along has been to explain what...
View Article“A small cloud, no bigger than a man’s hand…”
The prophet Elijah’s most famous forecast (I Kings 18:44) – the sudden storm, deduced from inconspicuous change, that ended a three-year drought – became a cliché in business journalism in the 1970s,...
View ArticlePaul Romer Is a Fount of Knowledge
It was a newspaper feature story of a sort that has become fairly familiar, if rarely so well executed, and my physicist friend was enthusiastic about it. “I love studies like this. Data on almost...
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