Arnold Kling over at the Library of Economics and Liberty does a nice job of re-casting the discussion of economic theory that Krugman started in his piece...
He puts together a good Recalculation story to describe the current economy...it hits a number of good points...
The discussion in the comments section below his piece is even more worthwhile...
It is absolutely worth reading: http://econlog.econlib.org/archives/2009/09/the_recalculati.html
Model this, child care vs. college costs
2 hours ago
