Over at the almost always excellent Wonkblog, Lydia DePillis interviewed World Fuel Services chairman Paul Stebbins. Stebbins was “involved with Fix the Debt from the very early stages” so it isn’r surprising that Paul Krugman is unimpressed. I am less favorably impressed. I believe the interview contains a 100% false extremely damaging accusation against the […]
Jon Chait argues that the SNAP cuts passed by the House are horrible and unlike the 1996 welfare reform. Is the “work requirement” they plan to impose on food stamps like welfare reform? There are three highly salient differences. Welfare benefits were specifically designed in a way, dating from their origin as a replacement for […]
I have gone a bit quiet on the QE front. Obviously, this is because I have been surprised and my pet theory has taken a beating. The theory was that QE amounts to basically nothing much. The dramatic effects on asset prices due to Abe/Kuroda announcements in Japan were seriousy damaging. But now not all […]
This is pure political fantasy. I will pretend to take Republicans seriously. They claim that Obamacare is unpopular (true) and tha the people want them to defund Obamacare. It is clear that the most unpopular part of Obamacare is the mandate (the Medicare entitlement reform which is included in House budget resolutions and of which […]
In this brief post, Krugman clearly restates his clear (and plausible) view that rule of thumb ad hoc paleo Keyensians had a lot to learn from Milton Friedman. He mentions the Phillips curve. I think I detect a hint of Forder in this sentence “We can argue how many economists really believed in a stable […]
Robert Hall wrote a paper (pdf warning)which is getting attention from Krugman, DeLong and their slavish follower uh here. Neither DeLong nor Krugman is convinced, but both are respectfully doubtful, because sometimes that which seems to be arrogant recklessness is not pointless Hall used to be famous at MIT for talks along the lines of […]
Well here goes. I am going to claim that Paul krugman’s work on imperfect competition, increasing returns and trade was a step backwards from the earlier literature. I will attack Krugman from what is considered the left. In any case, I am definitely criticizing him for excessive orthodoxy. I base my case on the work […]
ACA misinformation. Just for schadenfreude read Ezra Klein on Peggy Noonan on the ACA. Ouch that has to leave a mark. If Noonan were capable of shame, she should would just shut up forever and a pony. Wonkblog is affordable care act (aka ACA aka Obamacare) anti-missinformation central. Unfortunately, right there at wonkblog, Dylan Matthews […]
John Quiggin writes something absolutely conventional and accepted by 99% of macroeconomists and I throw a cow. Sometimes I bore myself but I must object to “The big problems arose out of the Phillips curve, as I’ve discussed before. First it was oversold as a stable trade-off by Keynesians [citation needed].” Which Keynesians when ? […]
Some economists seem to argue that expansionary fiscal policy is both completely ineffective and will place the burden of debt on our children. Yes I am arguing with a straw man (it is time for the two minutes Chait). Straw economist argues two things. First there is Ricardian equivalence so temporary tax cuts do not […]