It Could Be Worse

We could be Iceland:

Icelanders are flooding the supermarkets one last time, stocking up on food as the collapse of the banking system threatens to cut the island off from imports.

Tuesday, October 14, 2008

Understanding Krugman

Marginal Revolution has a nice introduction to one of the theories that helped Paul Krugman win the Nobel Prize: New Trade Theory. No economics background necessary.

And if you want to understand Krugman on a slightly more personal level (who doesn't?) here is an autobiographical essay on being an economist.

Day Late, 101 Million Short

The Obama campaign has released a statement in response to McCain's new economic proposal, which he'll be unveiling this afternoon on Pennsylvania:

John McCain’s latest gambit is a day late and 101 million middle-class families short. McCain’s plan would spend $300 billion to bailout the same irresponsible Wall Street banks that got us into this mess without doing anything to help jumpstart job growth for America’s middle class. His plan continues to provide no tax relief at all to 101 million hardworking families, including 97 percent of senior citizens, and it does nothing to cut taxes for small businesses or give them access to credit. Senator McCain also shows how little he understands the economy by offering lower capital gains rates in a year in which people don’t have an awful lot of capital gains. His trickle-down, ideological recipes won’t strengthen our economy and grow our middle-class, but Barack Obama’s pro-jobs, pro-family economic policies will.

Talk About Erratic

Following the McCain campaign when it comes to their new economic plan explains why they're rightly called erratic.

Monday, October 13, 2008