by reader sammy The Case for No Stimulus For the last three months, Americans have been treated to a debate over what the government can do to ease the effects of the current recession and bring about a speedy recovery. Lawmakers of both parties are now considering a very large stimulus package. But there is […]
Robert Waldmann People are talking about regulating credit default swaps (CDS) . They include Collin Petersen D-Minn who proposes making it illegal to own a CDS without owning the underlying instrument (this is absolutely standard for other kinds of insurance). and George Soros who supports the proposal.(via Felix Salmon) A problem, I think, is that […]
rdan IBM begins the process of truly fungible labor. It is not quite the same as having to move to Texas from Michigan. (hat tip hc) The climate is warm, there’s no shortage of exotic food, and the cost of living is rock bottom. That’s IBM (NYSE: IBM)’s pitch to the laid-off American workers it’s […]
rdan Tom Daschle withdraws Tax Prof Blog has carried a whole series of posts on the man but also the tax questions and remedies for the stimulus and for nominees over the last week. ataxingmatter Linda Beale has an opinion that is clear for any public servant.
Well the gloves came off this morning. What GOP Leaders deem wasteful in Senate stimulus bill STORY HIGHLIGHTSHouse Republicans unveil list of “wasteful” Senate stimulus spendingStimulus bill passed in the House without any Republican supportOne provision: A $246 million tax break for Hollywood movie producersAnother concern: $75 million for salaries of employees at the FBI […]
Robert Waldmann has been rather harsh on efforts to base macroeconomics on models of rational forward looking utility maximisers in Nash or Walrasian equilibrium recently. One might almost think that I agree with my PhD supervisor Larry Summers who once said and I quote from memory (but believe me the words had enough of an […]
Those of you who want to argue that something being “just symbolism” are invited to consider the fate of “Aid to Families with Dependent Children.” AFDC is clear and precise. It tells us that we are helping a specific set of people: Families with Dependent Children. Not just the father and the mother, but the […]
Robert Waldmann I argued that the conventional view that welfare reform was a success is based on the coincidence that the economy boomed right after welfare war reformed, the journalists stopped paying attention, not noticing the following increase in severe poverty during the Bush non boom. Now we are in a severe recession. How is […]
Robert Waldmann Wow an argument in favor of protection from Paul Krugman. I never expected to read that. Now he’s against protection all the same, but he does admit that there is a good argument that right now a bit of protection would be good for the world. The argument, basically, is that governments aren’t […]
Lukas Foss has died. He’s one of those composers/conductors who lead the way to contemporary classical music. More honored than beloved, his reputation will, I expect, improve with time.