A textbook bailout

May 8, 2009 in Economics

In response to thoughts that Ty Cowen's new economics textbook might threaten his income, Greg Mankiw amusingly responds:

It is true that there is always entry into the textbook-writing business, which imperils incumbents like me. But I am not worried. I am one of the economics profession's leading producers of textbooks, I have an extensive network of dealers (aka professors), and I have friends in high places (Larry Summers, Christy Romer). So doesn't all this make me precisely the kind of too-big-and-too-interconnected-to-fail plutocrat that, if push comes to shove, will get a government bailout?

If you doubt me, let me point out that my initials are GM.

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