Economy
"The Irresponsibility of Speaker John Boehner"
Stan Collender is very unhappy with John Boehner: The Irresponsibility of Speaker John Boehner, by Stan Collender: …Speaker John Boehner’s (R-Ohio) choreographed events last week in which he repeatedly said he would prevent the debt ceiling increase that will be needed at the end of 2012 or the start of 2013 from happening unless he [...]
Continue reading...Links for 2012-05-22
22 May 2012 – 12:36 am PDT
The Age of Equality – Richard Pomfret Was Hayek a (Welfare) Statist? – Uneasy Money Hayek and the Welfare State, Yet Again – Crooked Timber The Long and Short of Fiscal Policy – Alan Blinder Is That the Sound of a Bending Cost Curve? – Jared Bernstein How Markets Crowd Out Morals (Michael Sandel) – [...]
Continue reading...Why Have Politicians Neglected the Unemployed?
22 May 2012 – 12:36 am PDT
Republicans didn’t always oppose the use of monetary and fiscal policy to stabilize the economy, but they do now. Why the change?: Why Have Politicians Neglected the Unemployed?
Continue reading..."The Commencement Aaddress That Won’t be Given"
22 May 2012 – 12:36 am PDT
Robert Reich has inspiring words for new graduates: The commencement address that won’t be given, by Robert Reich: As a former secretary of labor and current professor, I feel I owe it to you to tell you the truth about the pieces of parchment you’re picking up today. You’re f*cked. Well, not exactly. But you [...]
Continue reading...Fiscal Policy Works
22 May 2012 – 12:36 am PDT
Paul Krugman: None So Blind: As those who will not see. Eddie Lazear has an op-ed in the WSJ on the fiscal cliff that, among other things, pooh-poohs any concerns that sudden cuts in spending might hurt the economy. He weasels a bit, but basically conveys the impression that there’s no evidence for Keynesian effects. [...]
Continue reading...Paul Krugman: Dimon’s Déjà Vu Debacle
22 May 2012 – 12:36 am PDT
Opponents of regulation end up making a strong case for it: Dimon’s Déjà Vu Debacle, by Paul Krugman, Commentary, NY Times: Sometimes it’s hard to explain why we need strong financial regulation — especially in an era saturated with pro-business, pro-market propaganda. So we should always be grateful when someone makes the case for regulation [...]
Continue reading..."We Need More and Better Data, not Less"
21 May 2012 – 12:30 am PDT
Calculated Risk: Comment: We need more and better data, not less, by Calculated Risk: The Depression led to an effort to enhance and expand data collection on employment, and I was hoping the housing bubble and bust would lead to a similar effort to collect better housing related data. From the BLS history: [T]he growing [...]
Continue reading...Links for 2012-05-21
21 May 2012 – 12:30 am PDT
For the Uninsured, the Wait for Health Care – NYTimes.com Metaphorically Speaking – Peter Dorman How universities helped transform the medieval world – Vox EU Facebook’s I.P.O. and Dual-Class Share Structures – James Surowiecki Will The Student Debt Burden Depress The Housing Market? – Barkley Rosser JPMorgan and the Volcker Rule's Hedging Exemption – Economics [...]
Continue reading..."Ah, For the Ignorance that Is Ignorant of Itself"
21 May 2012 – 12:30 am PDT
Peter Dorman: Ah, For the Ignorance that Is Ignorant of Itself, by Peter Dorman: Catherine Rampell quotes Daniel Webster, who sponsored a bill to eliminate the American Community Survey, which was passed by the full House of Representatives: “…in the end this is not a scientific survey. It’s a random survey.”
Continue reading...Did Samuelson and Solow Really Claim that the Phillips Curve was a Structural Relationship?
21 May 2012 – 12:30 am PDT
Like Robert Waldmann, I have always taught that the Phillips curve was initially promoted as a permanent tradeoff between inflation and unemployment. It was thought to be a menu of choices that allowed most any unemployment rate to be achieved so long as we were willing to accept the required inflation rate (a look at [...]
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23 May 2012 – 12:57 am PDT
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