The Long-run Budget Path

Click here to read my column in Sunday's NY Times.

Yale Journal of Economics

Students at Yale have started a new journal, called the Yale Journal of Economics, which aims to publish the best undergraduate papers, not just from Yale, but from any school. Click on the link to read the first issue or to find out how to submit.  The editors hope professors will encourage their students who write noteworthy papers to send them in.

Yesterday, I had the pleasure of being the featured speaker at the event where the inaugural issue was released.  Below is a picture of me with the new journal's editorial board after a dinner at Mory's, the classic Yale eating establishment.

What is the purpose of insurance?

A friend points me to this passage:

At a White House briefing Tuesday, Health and Human Services Secretary Kathleen Sebelius said some of what passes for health insurance today is so skimpy it can't be compared to the comprehensive coverage available under the law. "Some of these folks have very high catastrophic plans that don't pay for anything unless you get hit by a bus," she said. "They're really mortgage protection, not health insurance."

I have the same problem with my other insurance policies.  My homeowner insurance doesn't cover the cost when my gutters need cleaning, and my car insurance doesn't cover the cost when I need to fill the tank with gas. Instead, the policies cover only catastrophic events, like my house burning down or a major accident. Now that the Obama administration has fixed the health insurance system, I trust they will soon move on to solve these other problems.

Swagel on Scheiber

Phill Swagel reviews Escape Artists by Noam Scheiber on President Obama's first term. 

The Economist as Advice Columnist

Ask Emily is slated to be the economist's version of Dear Abby.

The Economist as Civil Libertarian

Tyler Cowen's new column in the NY Times reminds us that the worldview of economists often extends beyond economic issues.

The Best Job Opportunity Ever

The Harvard economics department is now recruiting teaching fellows for its popular undergraduate principles course, Ec 10, for the next academic year.  If you are a Boston-area graduate student with a solid background in economics, please consider interviewing for the chance to introduce the next Andrei Shleifer, Ben Bernanke, or Marty Feldstein (all former Ec 10 students) to the power of economic thinking. 

If interested, email ec10@fas.harvard.edu for more information and to request application materials.