Yesterday I wrote that causing a recession to correct policy mistakes would reflect the medical wisdom of re-breaking a bone in order to set it correctly. Yes, there is pain in re-breaking a bone. Yes, the patient screams. But the patient is better off in the long-run. I said people would think I was […]

After providing free medical services to individuals without Medicare, Medicaid, or commercial insurance since 1998, Polk County, Arkansas’ 9th Street Ministries medical clinic mission will be closing its doors on April 24, 2014. Although the clinic faced funding difficulties during the Great Recession, the reason for its closure is unrelated to finances or lack of […]

A talk given by Christina Romer was very good. (Posted by Mark Thoma) She said many practical things about economic downturns. She loved to refer back to the Great Depression. The basic message was not to fear downturns, and to be careful of doing anything to prolong them. Economies will recover normally and fairly quickly […]

The search for a model to explain Secular Stagnation is happening behind the scenes at the moment. Larry Summers is presenting Secular Stagnation as an Inverse of Say’s Law… “Lack of demand over time creates lack of supply”. But getting the mathematical mechanisms of how lack of demand suppresses supply (output) seems to be missing. […]

Maggie Mahar on the Uninsured: As I explain in an earlier post, Charles Gaba, the enrollment guru who has been tracking Obamacare sign-ups since October, now estimates that by April 15, some 17 million Americans will have purchased their own insurance policies either in the Obamacare Exchanges (8 million) or off-Exchange (9 million) But how […]

Roberts suggested that he believes Hobby Lobby and Conestoga Wood can bring forth claims of religious freedom, saying courts have held that “corporations can bring racial discrimination claims as corporations” and that “those cases involve construction of the term ‘person.’” – John Roberts Offers Conservatives A Way Out Of Birth Control Dilemma, Sahil Kapur, TPM, […]

by Maggie Mahar at The Health Beat Blog. Charles Gaba, who has become the “Nate Silver” for Obamacare enrollment numbers; now predicts that by April 15, 17 million Americans will have purchased their own healthcare coverage. His back-of-the-envelope estimate includes “a nice round 8 million”  who buy policies in the government marketplaces. In parentheses, he […]

By way of Mark Thoma, there is a new video of Larry Summers talking about Inverse Say’s Law. It is a wonderful video and one that could wake up the economics profession about Effective Demand. His views will not only challenge Fresh Water economists, but also Salt Water economists. (His talk starts at 9-minute mark.) […]