by New Deal democrat (Bondaddblog) How wages in services vs. goods-producing jobs explain relative GDP growth during Recoveries (Hint: producing goods is better) This week I will put up several posts discussing the relative impact of goods-producing vs. service jobs in the economy, prompted by an article by Kevin L. Kliesen and Lowell R. Ricketts […]

by Joseph Joyce America’s Current Accounts Deficits: Not Quite Déjà Vu The U.S. current account deficit has narrowed since 2006, when it reached $807 billion, which represented 5.8% of U.S. GDP. By 2013 the deficit had fallen to $400 billion, worth 2.4% of GDP. But the IMF last October projected it would reach $484 billion […]

Publisher’s (New Press) webpage: Social Security Works! More below the fold.

Yes I am playing with FRED. My thoughts about the graph after the jump.

I am trying to understand what, if anything, was agreed by Greece and the rest of the EU yesterday. I’m not sure they even agreed to kick the can down the road. update 11:00 AM EST Tuesday 2/24/2015: It’s a deal. Greece has four more months without promising a 4.5% of GDP primary surplus. I […]

@sandymaxey points me to a new report from the North Carolina Justice Center that is making my head spin. Picking Losers shows that the state’s flagship development program, the Job Development Investment Grant (JDIG), has seen 62 of its 102 projects fail in the period from its inception in 2002 until 2013. That is, 60% […]

How much is a human life worth ? Michelle Chen links to and discusses a new study which concludes that welfare reform reduced life expectancy. I am reminded of an earlier study (there is overlap — the new study analysed the results of two actual experiments one of which was analysed in the old study)