Wednesday, July 3, 2013

Bad news for Greg Mankiw

Cengage has gone bankrupt, and owes Greg $1.6 million.

Thought question: what does the negative income shock do to his labor supply?

This is likely bad news for Jeff Wooldridge too. His excellent undergraduate text, which I use in my ECON 406 class every fall, is also published by Cengage.

Addendum: apparently the bankruptcy is not a problem for Greg.

Hat tip: Ken Troske and others

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