I am back from the Contra Cruise but have to catch up on my day job stuff. In the meantime:
==> On November 1st I’ll be at American University.
==> The episode of Contra Krugman taped in front of a live audience on the Contra Cruise turned out awesome, if I do say so myself. It sounds like the laugh track from “Cheers.”
==> The finished version of my Cato study on a carbon tax (with co-authors Pat Michaels and Chip Knappenberger, both of whom are climate scientists).
==> I don’t have time to write it up now, but check out this Scott Sumner post on trade (actually current account) deficits at EconLog. It’s important for you to think through the examples he brings up, but I also think he overstates his case. In particular, it sounds like Sumner is arguing, “So long as U.S. GDP exceeds U.S. consumption, then it can’t possibly be the case that Americans are ‘living beyond their means’ by racking up a debt to foreigners.” Do you guys agree that’s what Sumner is arguing? If so, see if you think that’s an airtight claim. Counterexample coming soon…