Arnold Kling  

Mortgage Market Experts

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will be at George Washington University on May 26. I will also be there, near the end of the day. I once worked with Bob Avery, Lawrence J. White (will he remember?), Ed Golding, and Bob Van Order. All of them know more than I do about mortgage finance, and I assume that most of the other conference participants do as well.

I might do well to talk instead about the Greek debt crisis. I know much less about that than I do about mortgage finance. But there is something called comparative advantage.

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Arnie writes:

I really do feel that I am missing out on all these DC-based conference meetups. Too bad I live 3,000 miles west.

Knock'em dead about Greece, Arnold. That assumes that there IS a Greece 2 two weeks from now. Feel free to tell them that Mimizhusband thinks that none of the current trouble would exist if they just had their old drachma's back and could more easily monetize the whole thing. Inflation eventually wins, but the current leaders don't care about that. (This is just to show you that you indeed have a comparative advantage on the Greece issue.)

AJ writes:

Bailouts, regulation, and need to economically analyze such each year increase the importance of D.C. elites. People tend to adopt ideas which increase their own importance in society [thank you Schumpeter, 1946]

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