Paul Krugman has argued that bank recapitalization is the most logical response to the financial crisis, and in his column today he credits UK prime minister Gordon Brown for leading the world down that path. The Dow is up almost 600 points right now, so maybe the markets like that move.
Evidence that we should not freak out, episode I
October 13th, 2008 · 4 Comments
Tags: · economics, financial collapse
4 responses so far ↓
1 Ryan // Oct 13, 2008 at 5:14 pm
The markets aren’t the only thing that thinks Krugman knows what he’s talking about. He was just awarded the Nobel Prize in Economics. I always thought he was just a glorified blogger who happened to know the password to the NYTimes. Apparently he has more credibility than I realized.
2 Jason // Oct 14, 2008 at 10:41 am
Shouldn’t this be episode III?
3 Rafe // Oct 14, 2008 at 11:00 am
No, it’s episode I of evidence that we shouldn’t freak out. New sequence.
4 Jason // Oct 14, 2008 at 6:12 pm
Indeed it is, I’m clearly not very observant.
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