Freakonomics' Steven Levitt is an economist at the University of Chicago and the school's magazine asks if he's responsible for ruining economics. It's an interesting article in and of itself, but I got no small measure of pride when the one non-Chicago economist cited was from my alma mater (George Mason University). FYI, GMU's first Nobel Prize was for economics in 1986 and the winner was James Buchanan, Director, Center for Study of Public Choice. I can still remember the buzz on campus the day it was announced.

From the story: “All of the components of real estate value are going in the wrong direction simultaneously,” said Ross, one of nine money managers participating in a government program to remove toxic assets from bank balance sheets. “Occupancy rates are going down. Rent rates are going down and the capitalization rate — the return that investors are demanding to buy a property — are going up.”

h/t to Ed Cone for the link.