From Paul Krugman’s Nobel lecture. Good advice for anyone trying to think through a problem:

My rules for research:

1. Listen to the Gentiles

2. Question the question

3. Dare to be silly

4. Simplify, simplify

The slides of his talk are well worth going through, especially since he uses the U.S. auto industry as an example in his lecture. Thanks to Tyler Cowen of Marginal Revolution for the pointer.