Arnold Kling

Arnold Kling earned his Ph.D in economics at MIT. He was an economist on the staff of the Federal Reserve Board. From 1986-1994 he worked at Freddie Mac. He started in 1994 and sold it in 1999. His fourth book, From Poverty to Prosperity, co-authored with Nick Schulz, is due out in April of 2009. He blogs regularly at Econlog.
  • Help Me Understand Leonhardt's Math

    Derek Thompson refers to an analysis by David Leonhardt (it is David, by the way, not Richard) of the New York Times. Leonhardt writes,The story of…

  • Credit Card Laws Won't End Consumer Exploitation

    James Kwak discusses the issue of credit cards and consumer exploitation.From my personal perspective, credit cards are a lot better than…

  • Blaming Countrywide's Angelo Mozilo

    Fans of scapegoating can applaud the SEC's assault on Angelo Mozilo, the former CEO of Countrywide Funding.  My guess is that Mozilo, like many…

  • Incredible Stress Tests

    Reading Noam Scheiber and Willem Buiter (I found the links at the WSJ blog) and then reading Nouriel Roubini, I think it is fair to doubt the…

  • The Man Who Predicted the Financial Crisis

    It has taken me considerable effort to unravel the financial crisis.  Here is a video of Peter Schiff telling a story that is very close to…

  • The Economic Outlook: Less Bleak?

    The Wall Street Journal reports that Ben Bernanke made these mildly optimistic remarks:Recently we have seen tentative signs that the sharp decline…

  • Are We Naturally Greedy?

    Conor Clarke gets at a really fundamental issue. One's political views depend in part on one's view of human nature.In my view, people on the left…

  • Why Credit Default Swaps are Dangerous

    Felix Salmon says that credit default swaps are just like bonds.  Charles Davi says they are just like futures and forwards (actually, they are most…

  • Why CDS are Not Your Friends

    Charles Davi and I agree for the most part.  For example, I share his dim view of Hernando de Soto's recent op-ed.  However, he linked to an older…

  • I actually agree with Paul Krugman

    He writes,I don't think the Obama administration can bring securitization back to life, and I don't believe it should try.Paul writes this sentence…

  • Did the financial markets really run wild?

    The lead paragraph of the top front-page story in the Washington Post this morning.Treasury Secretary Timothy F. Geithner is proposing a…

  • Romancing the state vs. a bake sale for AIG

    Conor Clarke writes,Decisions about what will make our community better should be made communally -- by pooling revenue and making collective…

  • Brad DeLong and the Geithner Kool-Aid

    He writes, The Geithner Plan is a trillion-dollar operation by which the U.S. acts as the world's largest hedge fund investor, committing its money…

  • Who are you calling a Keynesian?

    A rather desultory opening to what is billed as a celeberity death match featuring Brad DeLong and Luigi Zingales on whether we are all Keynesians…

  • Which Sign is the Multiplier?

    Bloomberg writes,More than $1.6 trillion has been erased from U.S. equities since Jan. 20 as mounting bank losses and rising unemployment convinced…

  • The Never-ending Banking Crisis

    Simon Johnson writes,Boris Fyodorov, the late Russian Minister of Finance who struggled for many years against corruption and the abuse of…

  • The Never-ending Mortgage Crisis

    John D. Geanokoplos and Susan P. Koniak write,The plan announced by the White House will not stop foreclosures because it concentrates on reducing…

  • The mortgage subsidy

    Freddie Mac and Fannie Mae are limited to purchasing loans of a certain size, called conforming loans.  Larger loans are called "jumbo" mortgages. …

  • Wilkinson, Phelps, and Prescott

    One of them still has work to do to win the Nobel Prize. He interviews Phelps and Prescott. "There's a chance that some of the…

  • Intellectual Sorting

    Richard Florida's cover story in the latest Atlantic is interesting throughout, but this paragraph struck me in particular.Thirty years ago,…


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