Earlier this year, we created a presidential candidate. A fake candidate, sure. But a candidate with real ideas — ideas embraced by economists across the political spectrum, and rejected by every politician who wants to get elected.
Getting rid of the mortgage-interest tax deduction. Eliminating corporate taxes. Legalizing marijuana.
The world inside Mark Zandi's computer model feels pretty familiar. It's full of people who are worried about the economy. Their homes are being foreclosed on. They're paying more for gas. Something like 13 million of them can't find jobs.
Originally published on Wed September 5, 2012 11:37 am
Woolworth's is gone but the building still stands.
Credit Stan Honda / AFP/Getty Images
On today's show, we hit the streets of Manhattan with economist Tim Harford. In his book, Adapt, Harford argues that success always starts with failure.
Harford takes us on a failure tour of New York. Highlights include a Gutenberg Bible (turns out the Bible business wasn't so good to Gutenberg) and the Woolworth Building (Woolworth's had some great innovations in its day, but eventually got beat by big-box stores).