Uwe E. Reinhardt is an economics professor at Princeton.
"We've lost almost $11 trillion of household wealth in the last 17 or 18 months," lamented Senator Christopher J. Dodd, the Connecticut Democrat, on last Sunday's "Meet the Press," urging Congress to proceed with speedy deliberations on a finance reform bill.
Eleven trillion dollars! That's over three-quarters of our current gross domestic product.
Where did all this wealth go? Did other folks get it? Or did it just go up in smoke? (more)
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