by Ken Melvin 3rd World — It didn’t happen overnight. The nightly news, when talking about the effect of the pandemic on the populace in, say, Southeast Asian, African, South American, … countries, invariably refer to the tenuous hold on life of their working poor; they don’t really have a job. Each day they rise and […]
Meanwhile, As Minneapolis Burns So now we are all focused on the recent horrific murder in Minneapolis and now the subsequent events that are happening in many parts of the nation, with Minneapolis the epicenter. This is serious, and I have an idea how it will end. This has even distracted us from the usual […]
April personal income and spending: considering the extreme circumstances, a good report April personal income and spending, reported this morning, showed the impact of both the lock downs and the stimulus that was passed by the Congress. To cut to the chase, spending in real inflation-adjusted terms declined -13% (red), while real income rose 11%(blue): […]
Death And The Pandemic Economy The relation between death and the pandemic economy is a fraught one that has become hotly debated, although with not much clear empirical evidence. I note that recently over on Econbrowser Menzie Chinn has had a series of posts on this matter in various forms. Obviously a big issue has […]
The HEROES act passed by House Democrats did not include a formula that would keep expanded unemployment insurance benefits in place until the economy has recovered. The always thoughtful Ezra Klein is very critical of this omission. His argument can be boiled down to two points: If Biden wins the presidency, Republicans will predictably try […]
Lawrence Summers discovers bargaining power Mainline macroeconomics pretends to be “value neutral,” by which practitioners mean that they assign no moral value to the supply or demand curves to the participants in the economy: they simply exist. The question of *why* participants in the economy have particular supply and demand curves is simply not even […]
More On “Obamagate!” Just three items. 1) Today (or yesterday late?) AG William Barr appointed yet another Special Counsel to investigate “Obamagate!” John Bash of the Texas Western District of the DOJ. He has been assigned to investigate the various unmaskings of Michael Flynn that happened between the election of 2016 and Flynn’s interrogation by […]
Yea, Trump Issuing another Executive Order is a big so-what. What else is new? This one is a little different and concerns social media websites. “In a country that has long cherished the freedom of expression, we cannot allow a limited number of online platforms to hand pick the speech that Americans may access and […]
Conspiracy Theories: How to Pick Out the Plausible Ones This is an age of rampant conspiratorialism. Bill Gates is behind the pandemic because he wants to shoot you full of vaccines. No wait, it’s all those 5G cell towers. Or maybe it’s bioterrorism from China. Or just a hoax perpetrated by international capital to undermine […]