Relevant and even prescient commentary on news, politics and the economy.

Tax the Rich

Dylan Matthews has a typically excellent explainer about taxing the rich. Just click the link. I have one thought. Matthews is soft on capital income. Matthews wrote Saez and Diamond also argued that capital income — income from things like capital gains, corporate profits, dividends, etc. — should be taxed, which broke with previous models […]

Elizabeth Warren, David Leonhardt, Redistribution, and Predistribution

I just had an unusual experience. I was convinced by an op-ed. One third of the way through “Elizabeth Warren Actually Wants to Fix Capitalism” by David Leonhardt, I was planning to contest one of Leonhard’s assertions. Now I am convinced. The column praises Elizabeth Warren. Leonhardt (like his colleague Paul Krugman) is careful to […]

MMT II

Don’t blame me. Blame Noah Smith who asked me to write more about MMT. I don’t know much about MMT, but I am going to write about it anyway. First, there seems to be an extremely important disagreement between MMTers. There are definitely some that argue that MMT implies the US Federal Government can (and […]

MMT

Paul Krugman has some tweets harshly criticizing this article by Stephanie Kelton. His claim appears to be that, as a Modern Monetary Theorists, she asserts that there are two schools of macroeconomics MMT and “the mainstream” which includes Paul Krugman. I am kicking myself for deciding to read the article to find if it is […]

It is anti semitic to assert that lobbyists influence politics ?

“she was condemned by bipartisan leadership for suggesting pro-Israel lobbying groups … influence American politics.” Front page of WWW.washingtonpost.com, Deanna Paul does not seem to notice that the events she describe are insane. It is, in fact, true that it is not allowed to note that AIPAC is a lobby or that it influences politics. […]

I actually disagree with Paul Krugman for once

This is an exiting day. I disagree with something Paul Krugman wrote. In 2017, private insurance paid about a third of America’s medical bills — $1.2 trillion, or 6 percent of GDP. Having the government pay those bills directly, without a revenue offset, would therefore be a spending increase — a fiscal stimulus — of […]

The Ethics of Clinical Trials

In a clinical trial the therapy is decided by a pseudo random number generator. How can this be ethical ? People are treated differently for no reason related to different interests different values and priorities or even different merit (assuming merit can differ). There is a utilitarian rational for clinical trials. Through such trials doctors […]

A Facebook Experiment

Solid social science on the opinion pages (needless to say news reporters consider interest in randomized controlled experiments to be opinion. Christian Caryl explains how it is possible to determine the effect of the Russian influence campaign on the 2016 presidential election. Sinan Aral, a professor at the Massachusetts Institute of Technology [skip] says he […]