What did economists learn in 2007?

January 14, 2008 9:07 am

Tyler Cowen in the New York Times:

HARRY S TRUMAN once said he wanted to talk to a one-armed economist, “so that the guy could never make a statement and then say: ‘on the other hand.’ ” Yet economic knowledge continues to progress in unexpected ways. Here are a few of the things we learned in the last 12 months…

The list is: China is poorer than we thought; predatory borrowing was a bigger problem then predatory lending in the subprime market; music hardware is king; moving to sunny climes is very good for your health.

Tyler Cowen and Alex Tabarrok, the economists behind uber-blog Marginal Revolution, are organising a book forum to discuss "The Logic of Life". Not much to say yet, but when the discussion starts I’ll point you in that direction.
There is some news from Marginal Revolution, though. One commenter says that The Logic of Life is now shipping from Amazon.com. Since the publication date is tomorrow I can believe it.

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Tim, also known as the Undercover Economist, writes about the economics of everyday life.

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