A recent issue of The Onion asked three Americans to comment on the fall in consumer prices. The third interviewee, one Jeremy Edelston, asks the question that is at the heart of monetary equilibrium theory. I was thinking of using his last phrase as part of the subtitle for my book, but decided on something a little more polite. In retrospect, that subtitle might have sold more books!
Their treatment of the NBER's recession announcement is also good:
http://www.theonion.com/content/amvo/recession_actually_started_last
Posted by: Bob Murphy | December 08, 2008 at 07:33 PM