The M Word
By Arnold Kling
I have a new statistic to track–the use of the word “mortgage” in discussions of causes of the financial crisis. See, for example, my statistical report on Ben Bernanke’s arm-breaking speech.
I predict the following:
The use of the M word will be highly correlated with ideology. Toward the right, the M word will be used a lot. Toward the left, the M word will be used less. Instead, we will hear lots of G words–global imbalances, Gramm-Leach-Bliley, greed, and so on.
The use of the M word will be highly correlated with opposition to bailouts. Those involved with the bailouts will avoid the term, or come up with euphemisms (remember “toxic assets”?).