Security is tight here, I mean passport checks in the bus coming in, a K-9 unit, police presence, big private security guys with ear-buds and lapels roaming the corridors, and big signs on everyone’s chest to show that they belong. And for the first time in my life I’ve been picketed. Well, ten guys with placards, but when I went to take a picture and talk to them, they hadn’t yet showed up today. Disappointing as it was already 11am – and we were on-site at 7.15. So who are these people. Rumours suggest that they are not your usual anti-capitalists (despite their lone sign that was left behind), but they are tea-partyers.
I will try and run out during lunch (it’s a bit of a walk from here to the entrance) and see if I can’t catch them for a chat about their wants and needs. Hey, we are supposed to be rowing bloggers and this is too good to miss. Also, I am a bit baffled about this.
In the meantime, Tiago and Floris interviewed Akerlof (v. cool I am told), Richard Koo (Nomura Research Institute) just gave a talk about what we can learn from Japan. Yes learn from Japan. His slides are really worth looking at as they tell a story of how government can step in, and how money supply changes can occur without affecting the underlying economy. Duncan Foley (paper) preceded him to point out that if you net out the sectors where the national accounts impute Value Added, then the picture of the 2000 and 2008 recessions look a lot worse (and similar) than we may have thought. Oh, and on Q4 2010 figures, the US is looking very double dippish…
History of Economics Playground Redux 