From Adam Levitin, a summary of the Senate economic rescue package.  Recommended.  Why can’t the news media provide information like this?  Don’t answer that. Via Cowen, a discussion of bankruptcy.  Some kind of bankruptcy reform is quite possibly the best way to preserve established relationships, but apparently not under active consideration. Some economic charts from […]

On Sunday, our war time president: “We’re a country not based on nationalizing our business. Call a person over in Venezuela,” Trump told reporters. “How did nationalization of their businesses work out? Not too well.” Trump administration officials pointed to voluntary actions from companies, such as 3M announcing more masks are being shipped to New York and Seattle. […]

I am still trying to wrap my head around the coronavirus disaster.  Here is some current thinking . . . The immediate cause of the economic slowdown is a collapse in both demand and supply due to social isolation.  This will have at least two knock-on effects.  First, the initial collapse in economic activity will […]

We do not know how severe the covid-19 epidemic will be or how much economic and social pain it will cause, but it clearly has the potential to kill hundreds of thousands or even millions of Americans, and the economic consequences could include a deep recession and even a financial crisis that will cause misery […]

Good overview from the CDC.

I want to weigh in briefly on the Biden/Sanders debate that’s been going on here over the past few days. No links, this is a quickie. There are two issues for Democratic primary voters to consider: 1) who will be a better president and 2) who is more electable in a race against Trump. Both […]

The HuffPo has reported on a minor dust-up between Bernie Sanders and Alexandria Ocasio-Cortez over the politics of Medicare for All (see here, here, here, also Paul Waldman here).  The tl;dr summary is that AOC suggested that it is good politics for Sanders to insist on MFA, because this will give him more leverage in […]

I have suggested (here and here) that idealism is leading progressives astray.  Unfortunately, climate policy offers many examples. Consider the Climate Equity Act of 2019.  The CEA was, I believe, the first concrete piece of legislation proposed as part of the Green New Deal.  Unfortunately, it illustrates several of the problems with progressive idealism.  The […]

I have suggested (here and here) that idealism is leading progressives astray.  Idealism leads progressives to ignore the political opposition that their proposals will encounter, and the need to win over reluctant allies through policy design, messaging, and – yes – compromise. A clear example of the pitfalls of progressive idealism is provided by the […]

In a previous post, I argued that rising incomes and increasingly liberal attitudes may move opinion and policy in a progressive direction in the United States.  However, the Democratic victory in the 2018 election did not signal the start of a progressive “revolution”; it mostly reflected a predictable reaction to the unpopular policies of Trump […]