Modern Monetary Theory

Where is economics going and what new branches have emerged?  The Washington Post has a good article on Modern Monetary Theory, one of the ideas that has gained steam in the wake of the crisis.

The article also has two good attached graphics.  The first is a tree of modern macroeconomic thought and the major economists along the way (shown below).  The second is an interactive of the Federal Budget for 2013(based on projections)

Abbott & Costello Explain Unemployment

Greg Mankiw has a good post using the classic comedy characters Abbott and Costello to explain unemployment.  Good for a laugh and as a teaching tool.

Atlanta Fed Jobs Calculator

The Atlanta Fed has a great online teaching tool for connecting unemployment to growth - the jobs calculator.  It show how long it would take, under specific job creation numbers, to get to a set amount of unemployment.

U.S. Economy in Charts from the Treasury Department

The Treasury Department has posted a good set of charts about the U.S. economy.  Some of the charts are posted below.  The full set can be downloaded as a PDF.

The Results of the Stimulus

The New York Times Economic View has a good write up on the effect of the Obama 2009 stimulus and the Republican reaction.

Economist - Lost in the Recession

The Economist has a good set of charts and articles about how much was lost in the recent recession - It really is a lost decade.  Here are the charts:

Moral Hazard Explained and Investigated

This good article from the New York Times gives a good explanation of the concept of Moral Hazard.  It also has some good links to articles about moral hazard.