Greg MankiwModify

Thank you, British Academy

2026-07-17 20:42:41

I am deeply honored to be named an International Fellow of the British Academy.

1873

2026-07-16 00:56:06

I just finished reading Liaquat Ahamed's new book, 1873. It is excellent. The book examines the global financial crisis of 1873 and its aftermath, especially the role of railroads, international bond markets, deflation, and the debate over bimetallism. I found the period especially fascinating because I had read less about it than about other eras of world history. The discussion of railroads struck me as resonant with the current AI boom--a transformative technology that nonetheless attracted numerous hucksters and left some people with large losses.

The Fed's New Task Forces

2026-07-10 20:23:42

Yesterday, the Federal Reserve announced a group of task forces to review the central bank's framework for conducting monetary policy. Along with Tom Sargent and Bill White, I am serving on one of them.

Note to journalists: It would be premature for me to comment on the work of the task forces at this stage. However, you are free to consult my previous written work on these topics. This piece from two years ago may be especially relevant.

The Invite

2026-06-24 05:52:07

Over the past week, I have been watching some films at the Nantucket Film Festival. The best I saw was The Invite, a dramedy about a couple (played by Seth Rogen and Olivia Wilde) in a dysfunctional marriage who invite their neighbors (Ed Norton and Penelope Cruz) over for dinner. It is very funny and very poignant, often at the same time.

It will be out in theaters in the next few weeks. 

What I've been reading

2026-06-21 23:24:19

If you want to understand wealth in America, a good place to start is The Everywhere Millionaire by Owen Zidar and Eric Zwick. It offers a fact-filled analysis of the role of pass-through businesses, where many

wealthy people make their millions. A great balance of illustrative anecdotes and comprehensive data. My only objection is when the authors depart from their mostly positive analysis and insert their normative judgments. (The call in the epilogue for national health insurance and a higher minimum wage, whether you agree or not, comes off like a non sequitur--as if the authors had suddenly admonished the reader to eat more vegetables.) But overall, the book is excellent. 

Thank you to Eric for getting me a pre-publication copy. The book comes out in September. Book review editors: Take note.

What I've been reading

2026-05-31 16:23:18

I am in the middle of How to Win a Trade War by Soumaya Keynes and Chad Bown. It is always smart, sometimes irreverant, and timely. I plan to use it as one of the readings for my Harvard freshman seminar in the fall. It should generate a great class discussion.