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"Economists have historically rejected..." historical evidence? 27 Aug 2013 | 10:19 am
The following excerpt is from an article,"How Technology Wrecks the Middle Class" by David Autor and David Dorn, that appeared today in the New York Times "Opinionator." Contrary to the article's asse...
Declaring Debt Ceiling Unconstitutional The Only Way Out If Congress Goes Over The Edge 27 Aug 2013 | 07:17 am
Paul Krugman channels WSJ's Joe Wiesenthal on the argument that the impending debt ceiling is a more dangerous situation for the world economy than the impending taper by the Fed, with Krugman also s...
Way More Heat than Light 25 Aug 2013 | 08:22 pm
I promised a post on Phil Mirowski’s latest book, Never Let a Serious Crisis Go to Waste: How Neoliberalism Survived the Financial Meltdown, and now I have to deliver. Mirowski flames like no other a...
WaPo Continues Not So Subtle Front Page Campaign For Summers 22 Aug 2013 | 05:21 am
The Washington Post is at it again, the Washington newspaper of record, with a front page story by Zachary A. Goldfarb, "Allies of Fed candidates wage battle behind scenes." However, the vast majorit...
On the Michigan Survey of Inflationary Expectations 18 Aug 2013 | 09:12 pm
Paul Krugman notes: But no modern user of IS-LM forgets that the diagram must be drawn for a given expected rate of inflation, and that large changes in expected inflation can make a big difference. ...
Why Are We Rushing To Get Rid Of Fannie Mae and Freddie Mac? 18 Aug 2013 | 12:11 am
"How many Virginians does it take to change a light bulb? Five: One to change the bulb and four to talk about how great the old bulb was." I think I am turning into my late father, a conservative in...
Is WaPo Damning Yellen With Faint Praise? 17 Aug 2013 | 11:32 pm
While President Obama is still conveniently off vacationing on Martha's Vineyard, the Washington Post has a front page story today on Janet Yellen and her candidacy to replace Bernanke as Fed Chair. ...
Milton and The Bard 15 Aug 2013 | 01:32 am
"If anyone wants to argue that Milton Friedman is now unimportant to modern economics, that's like saying Bob Dylan is unimportant to modern music." - Stephen Williamson Why, yes, but to someone as f...
Modern Social Theory Self-Test 12 Aug 2013 | 03:12 pm
These guess-who-said-it exercises are pretty much obsolete in the internet era; you can just look up the quotes online, in somewhat the same way you might do a plagiarism search. So no prizes will be...
How Greedy Workers’ Pensions Destroy the Economy, Or Not. 11 Aug 2013 | 06:20 am
Let’s begin with one of these greedy workers. Or maybe he was one of the people who fret about the workers’ pensions? Maremont, Mark. 2013. “For McKesson’s CEO, A Pension of $159 Million.” Wall Stre...
