In the long run markets are rational. In the short term not so much. This election is being determined by emotion and that is good on many levels for president Elect Obama. Professor Mankiw’s arguement would elicit nothing but blank uncomprehending stares at a meeting of the Harvard English departments faculty and they will be equally confabulated when they call Joe the Plumber on a Sunday afternoon to come snake out the crapper and he tells them he doesn’t work on Sundays try calling and making an appointment on Moday.