The debate between Gerald Friedman and the economics profession seems to be settled — Friedman agrees that he may have made a mistake. It is really unfair to him that preliminary unpublished analysis received so much attention (mostly from the Sanders campaign). Oh and it is unfair to them to expect them to ignore favorable […]
In May of 2015, I wrote about the relationship between Labor Share and Unemployment. The post basically said that lower labor share translated into a higher limit upon unemployment. Here is the original graph from that post… In the post, I wrote… “The graph implies that as labor share falls, labor is less inclined to […]
Hat Tip to Digsby at Hullabaloo
In private practice, prior to his appointment to the appeals court, Srinivasan successfully represented former Enron Corp CEO Jeff Skilling in a Supreme Court case. The Supreme Court narrowed the reach of the so-called honest services fraud law, invalidating one theory used by prosecutors for Skilling’s conspiracy conviction and ordering further appeals court review. Despite […]
Mark Jamison has been a guest columnist of the Smoky Mountain News on several occasions now arguing against the addition of the Koch sponsored Center for Free Enterprise. This is another well written expose of why this addition should not be allowed at Western Carolina University. I would point out the flip-flopping going on as […]
A 20th anniversary reminder that an authentic randomized control trial proved beyond all conventional statistical significance levels and all reasonable doubt that welfare reform killed people. I will just note a very crude calculation. The experimental point estimate is that Florida’s welfare reform caused death rates to increase by 16%. This is a huge gigantic […]
You heard it here first. And before you laugh see that I pretty much nailed New Hampshire in the post and comments Christie is Done. But Wow! What a Parting Shot! where I only made two real mistakes. I overestimated Carson’s numbers and slightly underestimated Bush’s. So this is a corrective of sorts. Carson never […]
Nicholas Kristof ✔@NickKristof Clinton is accusing Sanders of being anti-Obama. Feels fake and contrived to me, and rather nasty. 10:47 PM – 11 Feb 2016 Twitter ___ What worries me more than anything else about a Clinton general election campaign is her propensity to say obviously silly things. Elsewhere in that speech, in Clinton, IA […]
Kevin Drum wrote “Here’s Why Bernie Sanders Doesn’t Say Much About Welfare Reform” He presents a graph of total social welfare spending in the USA divided by the number of people in households under 150% of the poverty line. He concludes “There are two obvious takeaways from this. First, overall spending on social welfare programs […]
Larry Summers has been writing about Secular Stagnation for Two Years. This is the post which triggered the trialogue It is an excellent and important post, but I will just take the non technical definition of Secular Stagnation The core idea behind secular stagnation was that the neutral real rate had for a variety of […]