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Sanity prevails among Nobel prize committee members (with a probable assist from international financial collapse). [img]smile.gif" border="0[/img]
Krugman correctly called the top of the US housing bubble at the same time as Bernanke was telling Congress that no such thing existed.
[url=http://www.nytimes.com/2005/08/08/opinion/08krugman.html]That Hissing Sound[/url]
I think that a pro-facial-hair choice for the Economics Nobel is a good sign for Jack's chances in the election.
Well George, you posted it first, so I will reply here... a little discussion of the Krugman ideas, maybe some chat about the "crisis"? Anyone??
I just wanted to point out that there are some GOOD things happening, as relates to the "credit-crunch": - prices might drop, certainly with oil/gasoline, and thats a good thing for AVERAGE PEOPLE. - Losses at the top might help redistribute wealth simply by the rich having less makes the dollars we have worth more. [no?, maybe?]- that the economic theory of Trickle Down, and "constant growth" are both out the window, and now we can start to move towards a SUSTAINABLE ECONOMY.
And finally, a little poetry.. where did I read this?... about the banks that made the mistakes that caused their demise: "The Elites have willingly Ceded the meritocracy".
A soupcon of meritocracy is a good thing...anywhere! [img]smile.gif" border="0[/img]
Would you say that Krugman is a product of that kind of (academic) world?