N. Gregory Mankiw's Blog

On the EconoFact podcast.

 Seven experts opine.

Jeffrey Flier, the former dean of Harvard Medical School, says the HHS Secretary must go. I know Jeff, and I can attest that he is no conventional Ivy League liberal. But he believes in science.

Like many who spend their lives in the ivory tower, I enjoy academic satires. That includes Richard Russo's novel Straight Man, the movie Wonder Boys, the TV show The Chair, and many books by David Lodge.
The most recent is Julie Schumacher's Dear Committee Members, written as a series of recommendation letters from an increasingly cantankerous creative writing professor. Highly recommended for those who like this genre. For me, it was a great way to end the summer, as I prepare for my first class on Tuesday.

 A conversation in The New York Times.

I just finished  Our Dollar, Your Problem by my Harvard colleague Ken Rogoff. It is a great read for econonerds like me, especially for those who lean toward macro rather than micro. Ken wonderfully blends personal anecdotes with wise observations about the evolution of global finance.

I will be speaking at a teaching conference to be held in New Orleans on November 5-7, 2025. If you might be interested in attending, click here.

Cecilia Rouse and I opine in the Washington Post.

...talk with Bianna Golodryga on CNN.

I recently ran across a graduation speech by the tennis great Roger Federer. I especially appreciated this passage:

Inthe 1,526 singles matches I played in my career, I won almost 80% of thosematches... Now, I have a question for all of you... what percentage of thePOINTS do you think I won in those matches?

Only54%.

Inother words, even top-ranked tennis players win barely more than half of thepoints they play.

Whenyou lose every second point, on average, you learn not to dwell on every shot.

Youteach yourself to think: OK, I double-faulted. It’s only a point.

OK,I came to the net and I got passed again. It’s only a point.

Evena great shot, an overhead backhand smash that ends up on ESPN’s Top Ten Plays:that, too, is just a point.

Here’swhy I am telling you this.

Whenyou’re playing a point, it is the most important thing in the world.

Butwhen it’s behind you, it’s behind you... This mindset is really crucial,because it frees you to fully commit to the next point… and the next one afterthat… with intensity, clarity and focus.

Thetruth is, whatever game you play in life... sometimes you’re going to lose. Apoint, a match, a season, a job... it’s a roller coaster, with many ups anddowns.

Andit’s natural, when you’re down, to doubt yourself. To feel sorry for yourself.

Andby the way, your opponents have self-doubt, too. Don’t ever forget that.

Butnegative energy is wasted energy.

Youwant to become a master at overcoming hard moments. That to me is the sign of achampion.

Thebest in the world are not the best because they win every point... It’s becausethey know they’ll lose... again and again… and have learned how to deal withit.