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

Is More Work Better? Think Again?

Is More Work Better? Think Again? The freedom of free time, branded as unproductive “leisure,” gets no respect. Originally published at Wealth Economics This post is prompted by a recent tweet from the excellent Joey Politano, but it’s not singling out Joey in particular. “We could be working so much more.” It’s hard to come away with […]

Clueless in Gaza II

“U.S. officials say they believe Hamas has been constrained by the Israeli operations, but that Israel will not be able to achieve, in the foreseeable future, its goal of eliminating the group’s military capability.” also “An Israeli military intelligence official, who spoke on condition of anonymity under military protocol, said that Israel was engaged in […]

Veterans Community Care Program is of lower quality, takes longer, and has soaring costs

The Veterans Community Care Program promised to give vets speedier access to high quality care. Instead, its care is of lower quality, takes longer and its cost is soaring. Suzanne Gordon and Steve Early focus on helping veterans secure healthcare.  I have talked with Steve previously. Russell Lemle is a Senior Policy Analyst for the […]

The Bottom 80% of U.S. Households Persistently Dissaves, Spending more than Income.

Only the top 20% saves. Originally published at Wealth Economics Newly released data series from the Bureau Economic Analysis have revealed a pretty eye-popping economic reality that’s been invisible in the national accounts…forever. Subtract households’ Personal Taxes and Personal Outlays from Personal Income to yield Personal Saving, and it turns out that the bulk of U.S. […]

(Not) Thinking About Money

It’s tempting to abolish the word entirely Originally published at Wealth Economics J.W. Mason offers a bang-up post on economists’ thinking about “money,” how economists have thought and talked about it over decades and centuries. There’s even a class syllabus and reading list from his class for his John Jay MA econ students. It’s a very deep dive. (“Thirteen Ways […]

The Renaming of Bird Species Honoring historical figures

In Michigan, we had a feeder about 20 feet from the deck. We would get different species . Flickers, Downey Woodpeckers, Chickadees, Nut Hatches, Wrens, the common sparrows, etc. The Nut Hatches and Chickadees were the acrobats and would hang upside down. When the feeder would empty out the Chickadees would hang around on the […]

MMT and the Wealth of Nations, Revisited

Steve Roth  (at Asymptosis) I just had occasion, in replying to a correspondent, to reiterate much of the thinking in my recent MMT Conference presentation. I thought it might be a useful and comprehensible form for some readers, so I’m reproducing it here. I’ve also explained this at somewhat painful length here. Correct me if I am wrong […]