In Fact, The World Needs More Nerds.

I Think One Of The Lessons Of The Depression - And This Is Something That Franklin Roosevelt Demonstrated - Was That When Orthodoxy Fails, Then You Need To Try New Things. And He Was Very Willing To Try Unorthodox Approaches When The Orthodox Approach Had Shown That It Was Not Adequate.

The Sources Of Deflation Are Not A Mystery. Deflation Is In Almost All Cases A Side Effect Of A Collapse Of Aggregate Demand.. A Drop In Spending So Severe That Producers Must Cut Prices On An Ongoing Basis In Order To Find Buyers.

I'd Throw Dollars Out Of Helicopters If I Had To, To Stimulate The Economy.

The Impact On The Broader Economy And Financial Markets Of The Problems In The Subprime Markets Seems Likely To Be Contained.

Economics Is A Highly Sophisticated Field Of Thought That Is Superb At Explaining To Policymakers Precisely Why The Choices They Made In The Past Were Wrong. About The Future, Not So Much.