Today in "Economists Are NOT Totally Clueless" (Part 3 of 3 or 4)

This is taking longer than it should. For now, here is a “teaser” graphic, which I suspect is worth much more than 1,000 words:

Meanwhile, other (mostly related) thing you may want to read:

  1. Brenda Rosser find that everything new is old again.
  2. Steve Randy Waldman tells the truth about banks, and Shames the Devil, not to mention Tim Geithner
  3. Menzie Chinn discusses types of unemployment, and, implicitly, suggests that those who are arguing that structural unemployment (and, therefore, NAIRU) has risen are incorrect.
  4. James Hamilton notes that TARP was not the only program of support for financial institutions, nor will it likely be the last.
  5. Linda Beale finds Amartya Sen discussing “Rational Choice.”
  6. Rick Bookstaber raises a point Brad DeLong made a while back: inflation can be a very good solution to a true macro disaster.
  7. Mark Thoma finds David Cay Johnston’s examination of marginal rate data and economic growth.