This recession has demanded a lot of us economists. Luckily Professor Summers is smart enough to know what people are saying without actually being awake to hear it.
The basic tools of supply and demand help immensely to understand and predict everyday events in our world. These days, many of those events are related to the financial crisis -- or the Panic of 2008 as I call it. But I also look at other issues related to fiscal policy, labor economics, and industrial organization.
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