Sunday, July 17, 2011

Sumner is back and rocks the boat (amv)

The opportunity costs of blogging are extremely high at the moment. This explains my absence in the last couple of weeks. The good news is that a much more able economists has returned to the blogosphere after endless months of absence:

Scott Sumner provides a very suggestive summary of his viewpoint on the GFC. As regular readers of 'the coffeehouse' know, I usually share his theory-based perspective. This time is not different. I especially like this: "The hero is the EMH [...]." I could not agree more.