Sunday, April 29, 2007

Economist Cat Fight

I have recently discovered the blogs of two notarious economists, Greg Mankiw and Dani Rodrik. Both are Havard professors and authors of textbooks and journal articles I have had to read thus far in my economic studies. I mentioned to my dad the other day, that as an undergrad I never considered the authors of my undergrad textbooks as being actual people. I think I always considered them to be the work of a conglomeration of people conveniently written under a pseudonym.

But now that are not only actual identities but their latest thoughts on all things economic are handily delivered to my Google Reader as they are published and I am kept up to date on all the latest breaking news. (I are all riveted right now)

Recently, the two have been debating the benefits and costs of free trade primarily on prices and employment. There has been a bit of a back and forth and back again. As of today there appears to be a tentative consensus of which my favourite part is "The Carlos Diaz-Alejandro rule: For almost any particular conclusion you want to arrive at, there is some economic model that will take you there. If I have learned anything thus far in two semesters it is that.

So the whole heated debate has been all the better for me as I am currently researching a paper on the effects of trade on inequality in developing countries. Sometimes I just love the internet.

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