Tom Keene
👤 SpeakerAppearances Over Time
Podcast Appearances
Yeah, absolutely.
On a Monday, a freezing Monday.
Okay, did you recruit Woodford to Columbia?
Was that your triumph?
Michael Woodford, folks, it's a 1,000-page book.
Everybody owns it.
Martin Feldstein once said, Tom, no one's ever read it.
Cover to cover.
Clarity has.
But the bottom line, and I'm bringing this up, folks, because we had an Ezra Prasad the other day from Cornell with this wonderful, important book out.
The Doom Loop.
The Doom Loop.
A really important book.
And the bottom line is we assume Woodford-like Euler equations, they come down to a point of stability.
And within the system, there's stability.
The end result is stability.
And Professor Prasad is saying, no, it's not.
They're going to go out on the x-axis and be unstable.
Discuss.
And geopolitical developments as well.