G

Greg Mankiw's Blog

http://gregmankiw.blogspot.com/feeds/posts/default (RSS订阅地址)

Economics Teaching Conference

<p>&nbsp;<a href="https://blogger.googleusercontent.com/img/a/AVvXsEirTRp5tVvbMSyAzcV-o9nVaRVwE6mVHf2jgDkFPuPiLkklUtHi0LOhUVYbJr-6OkwKQ9T2j9IsjQkltDaRaDO2rYLxoTe42jcdcvTBn3CkzpbqPehTdbDqWFeFzyclHzgCSSTEKooRHJItnD5KqL86ZUdNIdcCPNLK5CpY7U_Te3EmmB8aXJbz" style="clear: left; display: inline !important; margin-bottom: 1em; margin-right: 1em; text-align: center;"><img alt data-original-height="720" data-original-width="1200" height="231" src="https://imgproxy.citrusreader.com/weFmGXucmLCgIilIghNB737idc8Ye4j2SZVI6SpB_Go/raw:1/aHR0cHM6Ly9ibG9nZ2VyLmdvb2dsZXVzZXJjb250ZW50LmNvbS9pbWcvYS9BVnZYc0VpclRScDV0VnZiTVN5QXpjVi1vOW5WYVJWd0U2bVZIZjJqZ0RrRlB1UGlMa2tsVXRIaTBMT2hVVlliSnItNk9rd0tROVQyajlJc2pRa2x0RGFSYURPMnJZTHhvVGU0MmpjZGN2VEJuM0NrenBicVBlaFRkYkRxV0ZlRnp5Y2xIemdDU1NURUtvb1JISkl0bkQ1S3FMODZaVWROSWRjQ1BOTEs1Q3BZN1VfVGUzRW1tQjhhWEpiej13Mzg0LWgyMzE" width="384"></a><br><span style="font-size: large;"><br></span></p><p><span style="font-size: large;">If you might be interested in attending, </span><a href="https://events.cengage.com/event/2572b094-d8db-41e6-ae3f-a33cd9e5cd8a/summary?RefId=Speaker" style="font-size: large;" target="_blank">click here</a><span style="font-size: large;"> for more information.</span></p>

2026/9/8
阅读更多

My Reading List

<p>Tomorrow is the first meeting of my <a href="https://www.nytimes.com/2017/09/08/business/getting-along-when-you-disagree.html?unlocked_article_code=1._VA.gQzW.fxoAhcmhEwDe&amp;smid=url-share" target="_blank">freshman seminar at Harvard</a>. Here are the books we are reading this year:</p><p></p><p class="MsoNormal" style="line-height: normal; margin-bottom: 0in; margin-left: .5in; margin-right: 0in; margin-top: 0in; margin: 0in 0in 0in 0.5in;"></p><ul style="text-align: left;"><li><span lang="EN" style="font-family: &quot;Times New Roman&quot;, serif;"><span style="font-size: medium;">The Worldly Philosophers: The Lives, Times and Ideas of the Great Economic Thinkers, by Robert Heilbroner</span></span></li><li><span style="font-size: medium;">Capitalism and Freedom, by Milton Friedman</span></li><li><span style="font-size: medium;">Equality and Efficiency: The Big Tradeoff, by Arthur Okun</span></li><li><span style="font-size: medium;">Moral Economics:<span style="color: #04090b; font-family: &quot;Times New Roman&quot;, serif;"> From Prostitution to Organ Sales, What Controversial Transactions Reveal About How Markets Work</span><span lang="EN" style="font-family: &quot;Times New Roman&quot;, serif;">, by Alvin Roth</span></span></li><li><span style="font-size: medium;">The Myth of the Rational Voter: Why Democracies Choose Bad Policies, by Bryan Caplan</span></li><li><span style="font-size: medium;">How to Win a Trade War: An Optimistic Guide to an Anxious Global Economy, by Soumaya Keynes and Chad P. Bown</span></li><li><span style="font-size: medium;">How Economics Explains the World: A Short History of Humanity, by Andrew Leigh</span></li></ul><p></p>

2026/9/7
阅读更多

Thank you, British Academy

<p></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEgdP3DX75aoJjNIcN8PqOYhSZoafJe_hzRhoI2ggXeArK5-WmyS1UMrbGe8MKtkeb3mZQrM_cXojbLywB7UUDapCc3QECH1FM60PQdkzelJ29EBr4LayVEp-ZOwDnfLsTSnbX29A33WXE3jnBwEhQ4fpSXKNCfFk5K5ogXAbVb7zY656sHXALmk" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img alt data-original-height="137" data-original-width="314" height="92" src="https://imgproxy.citrusreader.com/os7f1Dn7JrAaYfgANLPJjQyhbaVpDi959rV_f4RaZkc/raw:1/aHR0cHM6Ly9ibG9nZ2VyLmdvb2dsZXVzZXJjb250ZW50LmNvbS9pbWcvYS9BVnZYc0VnZFAzRFg3NWFvSmpOSWNOOFBxT1loU1pvYWZKZV9oelJob0kyZ2dYZUFySzUtV215UzFVTXJiR2U4TUt0a2ViM21aUXJNX2NYb2piTHl3QjdVVURhcENjM1FFQ0gxRk02MFBRZGt6ZWxKMjlFQnI0TGF5VkVwLVpPd0RuZkxzVFNuYlgyOUEzM1dYRTNqbkJ3RWhRNGZwU1hLTkNmRms1SzVvZ1hBYlZiN3pZNjU2c0hYQUxtaz13MjA5LWg5Mg" width="209"></a></div>I am deeply honored to be named an <a href="https://www.thebritishacademy.ac.uk/fellows/profiles/sections/economics-and-economic-history/types/international-fellow/?order=-year_elected" target="_blank">International Fellow</a> of the British Academy.<p></p>

2026/7/17
阅读更多

1873

<p><a href="https://blogger.googleusercontent.com/img/a/AVvXsEjFwSkBBVIJFSS55Wd3EhDd4XlUlXRm8J3Y2cysYa_3yZV7upgzj1-JTS43VpIUQq56FANaFTixt8neFbmq7viDY8sqvKO5Yf3Nm5OicBlxUt6YENPe7eLDV1TyB4mlbEBedT-2-6BOhvk4Br3kl4KheF-pEaHP6yEFMOBZdIAsA5mQpzGD-OwF" style="clear: right; display: inline; float: right; margin-bottom: 1em; margin-left: 1em; text-align: center;"><img alt data-original-height="450" data-original-width="300" height="230" src="https://imgproxy.citrusreader.com/zh0Q7S9D8Al6InMgVHOlkmJcfuwLXPx4Rff4gIWq0i8/raw:1/aHR0cHM6Ly9ibG9nZ2VyLmdvb2dsZXVzZXJjb250ZW50LmNvbS9pbWcvYS9BVnZYc0VqRndTa0JCVklKRlNTNTVXZDNFaERkNFhsVWxYUm04SjNZMmN5c1lhXzN5WlY3dXBnemoxLUpUUzQzVnBJVVFxNTZGQU5hRlRpeHQ4bmVGYm1xN3ZpRFk4c3F2S081WWYzTm01T2ljQmx4VXQ2WUVOUGU3ZUxEVjFUeUI0bWxiRUJlZFQtMi02Qk9odms0QnIza2w0S2hlRi1wRWFIUDZ5RUZNT0JaZElBc0E1bVFwekdELU93Rj13MTUzLWgyMzA" width="153"></a>I just finished reading Liaquat Ahamed's new book, <a href="https://www.penguinrandomhouse.com/books/306461/1873-by-liaquat-ahamed/" target="_blank">1873</a>. It is excellent. The book examines the global financial crisis of 1873 and its aftermath, especially the role of railroads, international bond markets, deflation, and the debate over bimetallism. I found the period especially fascinating because I had read less about it than about other eras of world history. The discussion of railroads struck me as resonant with the current AI boom--a transformative technology that nonetheless attracted numerous hucksters and left some people with large losses.</p><div><p></p><div class="contrib-wrap" style="-webkit-font-smoothing: antialiased; background-color: white; box-sizing: border-box; font-family: Fort-Book, &quot;Helvetica Neue&quot;, Helvetica, Arial, sans-serif; font-size: 16px; margin: 24px 0px 0px; text-rendering: optimizelegibility; text-shadow: none;"><h2 class="contributors isbn-related 9781594204173 show" style="-webkit-font-smoothing: antialiased; box-sizing: border-box; color: inherit; display: none; font-family: Fort-Book; font-size: 18px; font-weight: 500; line-height: 24px; margin: 0px; text-rendering: optimizelegibility; text-shadow: none;"><span class="contributor" style="-webkit-font-smoothing: antialiased; box-sizing: border-box; display: block; padding-bottom: 12px; text-rendering: optimizelegibility; text-shadow: none;">By&nbsp;<span class="ws-nw role-A" style="-webkit-font-smoothing: antialiased; box-sizing: border-box; text-rendering: optimizelegibility; text-shadow: none; white-space: nowrap;"><a href="https://www.penguinrandomhouse.com/authors/96819/liaquat-ahamed/" style="-webkit-font-smoothing: antialiased; background: transparent; box-sizing: border-box; color: black; font-family: Fort-Medium; text-rendering: optimizelegibility; text-shadow: none;"></a></span></span></h2></div></div>

2026/7/15
阅读更多

The Fed's New Task Forces

<p>Yesterday, the Federal Reserve <a href="https://www.federalreserve.gov/monetarypolicy/task-forces.htm" target="_blank">announced</a>&nbsp;a group of task forces to review the central bank's framework for conducting monetary policy. Along with Tom Sargent and Bill White, I am serving on <a href="https://www.federalreserve.gov/monetarypolicy/inflation-framework-task-force.htm" target="_blank">one of them</a>.</p><p>Note to journalists: It would be premature for me to comment on the work of the task forces at this stage. However, you are free to consult my previous written work on these topics. <a href="https://www.sciencedirect.com/science/article/pii/S0304393224000849" target="_blank">This piece</a>&nbsp;from two years ago may be especially relevant.</p>

2026/7/10
阅读更多

The Invite

<p></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEham9-ibeORGgiSND9XjdQtzTR3h98uf62r74X4AlzRrHJ5ZQl2boSUyrUvtvOiZjG280eRdtFD7JpDlfzUSZzmIhUi66x0cu3sJvN_gYtIRcjjVnQceR4QlY9UP3LTZeKJr8m_gaSdttGwKbxQAK34pGxEXm_x72U1DP4NcOZdN5rSen_UXdu5" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img alt data-original-height="678" data-original-width="452" height="272" src="https://imgproxy.citrusreader.com/2tCOWMIxKCxQFPLpIUv17I7BFnyKyCCMym0xqb1bpR0/raw:1/aHR0cHM6Ly9ibG9nZ2VyLmdvb2dsZXVzZXJjb250ZW50LmNvbS9pbWcvYS9BVnZYc0VoYW05LWliZU9SR2dpU05EOVhqZFF0elRSM2g5OHVmNjJyNzRYNEFselJySEo1WlFsMmJvU1V5clV2dHZPaVpqRzI4MGVSZHRGRDdKcERsZnpVU1p6bUloVWk2NngwY3Uzc0p2Tl9nWXRJUmNqalZuUWNlUjRRbFk5VVAzTFRaZUtKcjhtX2dhU2R0dEd3S2J4UUFLMzRwR3hFWG1feDcyVTFEUDROY09aZE41clNlbl9VWGR1NT13MTgxLWgyNzI" width="181"></a></div>Over the past week, I have been watching some films at the Nantucket Film Festival. The best I saw was <i>The Invite</i>, a dramedy about a couple (played by Seth Rogen and Olivia Wilde) in a dysfunctional marriage who invite their neighbors (Ed Norton and Penelope Cruz) over for dinner. It is very funny and very poignant, often at the same time.<p></p><p>It will be out in theaters in the next few weeks.&nbsp;</p>

2026/6/23
阅读更多

What I've been reading

<p>If you want to understand wealth in America, a good place to start is <i><a href="https://www.amazon.com/Everywhere-Millionaire-Really-America-There/dp/1250378508" target="_blank">The Everywhere Millionaire</a></i> by Owen Zidar and Eric Zwick. It offers a fact-filled analysis of the role of pass-through businesses, where many </p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEiCEWjfiQa5LRHH83IHQd-vijiP4HrWTad4l5sNDvdJ0iqw3sQJTs51sy8mlFnVWNohLnRI0hFR5rPyPiii9CYKdmhpLvjN7HaG5XNn3xkqZS1RpalFJdXcI_xothBPcdgnSSFMc3P12302IiUvQ9WKz8eNNUQ5vjk_V76VXbxTRlCR0XE9fsHv" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img alt data-original-height="1500" data-original-width="994" height="240" src="https://imgproxy.citrusreader.com/g8VBtJbYJGjncCZMk1yvhaO2Vv2h2ioND1cZrqomSHw/raw:1/aHR0cHM6Ly9ibG9nZ2VyLmdvb2dsZXVzZXJjb250ZW50LmNvbS9pbWcvYS9BVnZYc0VpQ0VXamZpUWE1TFJISDgzSUhRZC12aWppUDRIcldUYWQ0bDVzTkR2ZEowaXF3M3NRSlRzNTFzeThtbEZuVldOb2hMblJJMGhGUjVyUHlQaWlpOUNZS2RtaHBMdmpON0hhRzVYTm4zeGtxWlMxUnBhbEZKZFhjSV94b3RoQlBjZGduU1NGTWMzUDEyMzAySWlVdlE5V0t6OGVOTlVRNXZqa19WNzZWWGJ4VFJsQ1IwWEU5ZnNIdg" width="159"></a></div>wealthy people make their millions. A great balance of illustrative anecdotes and comprehensive data. My only objection is when the authors depart from their mostly positive analysis and insert their normative judgments. (The call in the epilogue for national health insurance and a higher minimum wage, whether you agree or not, comes off like a non sequitur--as if the authors had suddenly admonished the reader to eat more vegetables.) But overall, the book is excellent.&nbsp;<p></p><p></p><p>Thank you to Eric for getting me a pre-publication copy. The book comes out in September. Book review editors: Take note.</p>

2026/6/21
阅读更多

What I've been reading

<p></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEixMVyIvRdG-pxXrL1-2iguIT8QEFVoMvMOlaSxxI_dqGzfpQCsnITGrB-d0LAN_9hQH-meIuCP9CKFSBvaJmD_SJVEDifEfg1DM67A_EXF9a7eOW2L0cLrDyoTrT-M04zuQJDB79rmHTgKCfMePIsZ4Mijri09O9V4fEFbYVTr7jVFGQsX-D0k" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img alt data-original-height="900" data-original-width="593" height="240" src="https://imgproxy.citrusreader.com/-Pfj3Rew2LlK7Xd6CkU4a7Te0mLkAhTwf5ZOv8Pl8gg/raw:1/aHR0cHM6Ly9ibG9nZ2VyLmdvb2dsZXVzZXJjb250ZW50LmNvbS9pbWcvYS9BVnZYc0VpeE1WeUl2UmRHLXB4WHJMMS0yaWd1SVQ4UUVGVm9Ndk1PbGFTeHhJX2RxR3pmcFFDc25JVEdyQi1kMExBTl85aFFILW1lSXVDUDlDS0ZTQnZhSm1EX1NKVkVEaWZFZmcxRE02N0FfRVhGOWE3ZU9XMkwwY0xyRHlvVHJULU0wNHp1UUpEQjc5cm1IVGdLQ2ZNZVBJc1o0TWlqcmkwOU85VjRmRUZiWVZUcjdqVkZHUXNYLUQwaw" width="158"></a></div><p><br></p>I am in the middle of <i>How to Win a Trade War</i> by Soumaya Keynes and Chad Bown. It is always smart, sometimes irreverant, and timely. I plan to use it as one of the readings for my Harvard freshman seminar in the fall. It should generate a great class discussion.<p></p>

2026/5/31
阅读更多

What I've been reading

<p></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEjai1YuLKTabSa9UqX_A18jnDh8mNm30wbLOsknR7RjseusS_Q_5dazIaPFQ0-lVcxKrwy7bGJylmy0maWmMs3YEFne643EygXNzfp66szVDa_51fGJylpMHHji17yz-vGV78U5u7os-sJWd18z5zO9NRLN6yEs3E8GcJ8NAqZTu1apsWR9nsa4" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img alt data-original-height="1500" data-original-width="988" height="240" src="https://imgproxy.citrusreader.com/Y2eyh6gAyOSmBqYwA7KQGYgf5JpFuQp-v5iljtaJ4oE/raw:1/aHR0cHM6Ly9ibG9nZ2VyLmdvb2dsZXVzZXJjb250ZW50LmNvbS9pbWcvYS9BVnZYc0VqYWkxWXVMS1RhYlNhOVVxWF9BMThqbkRoOG1ObTMwd2JMT3NrblI3UmpzZXVzU19RXzVkYXpJYVBGUTAtbFZjeEtyd3k3YkdKeWxteTBtYVdtTXMzWUVGbmU2NDNFeWdYTnpmcDY2c3pWRGFfNTFmR0p5bHBNSEhqaTE3eXotdkdWNzhVNXU3b3Mtc0pXZDE4ejV6TzlOUkxONnlFczNFOEdjSjhOQXFaVHUxYXBzV1I5bnNhNA" width="158"></a></div><br>I am a bit late to this party, but I finally got around to reading Dan Wang's <i><a href="https://wwnorton.com/books/9781324106036" target="_blank">Breakneck</a></i>. It is a thoughtful and very readable book that taught me a lot about the Chinese economy and political system. Highly recommended for anyone interested in the topic.<br><br><p></p>

2026/5/24
阅读更多

What I've been reading

<p></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEhn3nmZZTbPipBKNRfRFMogL9ti2aKZODIIQOSFAmQ5-uQ2aObcdnbOjm2duOkSFFpW15atdF4fXp2306yo24AB9Myxvue_SjmRLAEfx7XFnwC79QFaAd-BFI6sq2tP0BD5xkeFm2nblVARXmzpiJQ07XkTzWxSGub33Ks3C61rlF9nKDPMIn0Y" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img alt data-original-height="466" data-original-width="301" height="254" src="https://imgproxy.citrusreader.com/pTJHpZ9iQaWMa3SfXK0Rv66x0im86bYul69tbSYBjj8/raw:1/aHR0cHM6Ly9ibG9nZ2VyLmdvb2dsZXVzZXJjb250ZW50LmNvbS9pbWcvYS9BVnZYc0VobjNubVpaVGJQaXBCS05SZlJGTW9nTDl0aTJhS1pPRElJUU9TRkFtUTUtdVEyYU9iY2RuYk9qbTJkdU9rU0ZGcFcxNWF0ZEY0ZlhwMjMwNnlvMjRBQjlNeXh2dWVfU2ptUkxBRWZ4N1hGbndDNzlRRmFBZC1CRkk2c3EydFAwQkQ1eGtlRm0ybmJsVkFSWG16cGlKUTA3WGtUeld4U0d1YjMzS3MzQzYxcmxGOW5LRFBNSW4wWT13MTY0LWgyNTQ" width="164"></a></div><br>I just finished the <a href="https://www.amazon.com/Moral-Economics-Prostitution-Controversial-Transactions/dp/1541702018" target="_blank">new book</a> by my ertswhile colleague Al Roth. Highly recommended! The subtitle is a good summary.<p></p>

2026/4/20
阅读更多

推荐订阅

Tim Harford

Cafe Hayek

Marginal Revolution

Naked Capitalism

Quick Sprout