The Wall Street Journal just published news that Greece defaulted on its IMF loan. Link I have connections to some people in the banking industry who have said for years that Greece’s default was inevitable. Now the default looks like it is here.

Imagine you had to choose, and could choose: you can spend your whole life and raise your family in either of two equally prosperous countries. In one country people work lots of hours to attain that prosperity. In the other country people work far less. You don’t know anything else about these countries. Which would you choose? The answer […]

Now that Congress has given the President fast-track Trade Promotion Authority, the first agreement to be considered under these rules (no amendments allowed, up or down vote in 90 days) will be the Trans-Pacific Partnership (TPP). As you know from previous columns, one of the most worrying aspects of the TPP is its expansion of […]

Tomorrow, in addition to the predictable ruling in the EPA/mercury-emissions case, and in addition to a declaration of a constitutional right to same-sex marriage—another 5-4 ruling, in Obergefell v. Hodges—the Court will issue an opinion in Arizona State Legislature v. Arizona Independent Redistricting Commission, a case that could directly implicate continued Republican control of the House of Representatives.  […]

(Lifted from Robert’s Stochastic Thoughts) by Robert Waldmann Brad DeLong buries the Lead in what is left of George Will’s Credibility A 16th paragraph (if I counted right) at the Washington Center for Equitable Growth blog is more prominent that a first paragraph here, but Brad has never been a stickler for restrictions on fair […]

by Joseph Joyce Greek Tale(s) No matter what new twist the Greek debt crisis takes, there can be no question that it has been a catastrophe for that country and for the entire Eurozone. The Greek economy contracted by over a quarter during the period of 2007 to 2013, the largest decline of any advanced […]

Democrats should take continued GOP opposition to Obamacare very seriously. It has serious real-world consequences. As long as states hold out against the Medicaid expansion, it could slow the law’s efforts to realize its goal of expanding coverage. One thing this means is that Democrats should redouble their efforts to regain electoral ground on the level […]

In his dissent to Edwards v. Aguillard, Supreme Court justice Antonin Scalia made a neat distinction, sidestepping the issue of “legislative intent” that he finds so troubling: it is possible to discern the objective “purpose” of a statute (i. e., the public good at which its provisions appear to be directed), (The dissent is obsessed with […]