Okay, here’s what Christie actually said: I’m tired of hearing about the minimum wage. I really am. I don’t think there’s a mother or father sitting around the kitchen table tonight in America saying, ‘You know, honey, if our son or daughter could just make a higher minimum wage, my God all of our dreams would be […]
Noah Smith provoked a conversation here at Angry Bear by wondering what causes recessions. Recessions are not such a mystery when you see the interaction between effective demand and such things as productivity. The conversation took place in the comments section of a previous post on Productivity’s role as a cause of recession. The issue […]
by Joseph Joyce Martin Wolf’s Warning It is time for the 2014 Globie—a (somewhat fictitious) prize I award once a year to a book that deserves recognition for its treatment of the consequences of globalization. (Previous winners can be found here.) The financial turmoil of the last week makes this year’s award-winner particularly appropriate: Martin […]
by Linda Beale Both the rich and ordinary Americans misunderstand their economic interests There is class warfare going on, right now, all across this country. It’s highlighted by the election gimmicks and gambits of those on the right who claim to be supporting ordinary Americans but whose real intentions show in the results. And it […]
This is the average inflation rate expected over the next 5 years… Last data point is for October 21, 2014.
Via Digby comes a couple short films talking about what is money. They are part of an effort by a group/site called We The Economy that has 20 short films aimed: to drive awareness and establish a better understanding of the U.S. economy. Told through animation, comedy, musical, non-fiction, and scripted films, WE THE ECONOMY […]
The Fed is an accomplice to the increase in inequality. An accomplice is an entity that helps another entity commit a crime. The real change that led to increased inequality is the conspicuous drop in labor share after the crisis. Record profits by firms were not being transmitted to labor. That was not the fault […]
Noah Smith made a thought-provoking statement on twitter, “Sometimes I wonder what actually causes recessions.” He received a slew of responses. While one could point to many causes, including tight money and the beats of butterfly wings, I look primarily to the dynamics of productivity. Here is a graph of year-over-year productivity growth… You will […]
Is it just me, or did Joni Ernst just effectively announce that she wants to kill farm subsidies? Of course, how effectively she announced it will depend on whether her opponent, Bruce Braley, picks up this ball and runs with it. Although maybe she’s talking about something else she thinks is pork. Be careful what […]