Justin Fox with an excellent post about Casey Mulligan's ideas:
"University of Chicago economist Casey Mulligan had a provocative piece on the New York Times op-ed page last Friday arguing that, financial crisis or no, the economy would be okay. The reason he's so sure? The strong performance of a measure he calls marginal product of capital:'
Please read on.
Again, when I read Mulligan, he makes sense to me, and I'm a pessimist.
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