Editor’s note: This is the second of two columns on the presidential candidates. The first column is Candidates failing Econ 101. Neither President Bush nor Sen. John Kerry inspires much enthusiasm among economists. But, as noted in last week’s column,…
How does economic theory handle effects of irrationality and ignorance?
Editor’s note: this column was originally published on August 29, 1999. Just how rational and well-informed are human beings? What happens to economic theory if people are not always rational and often poorly informed? These questions are prompted by a…
Debt relief for poor nations is just a first step
The move to write off debt that very poor countries owe to other governments and to institutions such as the World Bank is a good one. It will help the nations affected, but is far from a cure-all for their…
Candidates failing Econ 101
Editor’s note: This is the first of two columns on the presidential candidates. The second column is Bush’s deficit worse than Kerry’s. My student was naive. “Whom will economists vote for, Bush or Kerry?” she asked. I replied that, like…