I don’t really understand economics particularly well (other than the simple stuff), and some days, I don’t think anybody in the world really understands economics particularly well. That said, as the economy continues to founder, I become more and more interested in how macroeconomics affects my day to day microeconomic prospects. In a perfect world, we wouldn’t need to understand the relationship of inflation to unemployment, deflation, or liquidity traps, but in today’s world, we certainly do. I really appreciate that there are economists out there with weblogs who are doing a decent job of giving their impressions of what’s going on. The two I read without fail are Brad DeLong’s Semi-Daily Journal and Zimran Ahmed’s winterspeak.com. There are a bunch of other economists with weblogs as well, but those are the two I read without fail.
Update: Scott Rosenberg weighs in with a post about the economy as well today.