Bob Higgs gets more insight from yield curves.
Thank goodness for small victories. (HT Andy Roth)
Guests at The Economist ponder the reason(s) behind the strength of Germany’s economic recovery. This line from Carmen Reinhart is important:
Germany was a notable outlier in the now-notorious credit and debt boom of the decade prior to the onset of the subprime crisis. Credit relative to nominal GDP fell about 11 percentage points during 1997-2007; during the same period, credit/GDP rose 80 percentage points for most of the advanced economies.
Duke University’s Bruce Caldwell explains the importance to economists of mastering more history of economic thought. (HT George Leef)
