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

Thinking About Piketty’s “Capital”

The quotes in this post’s subject line are very much intended as a double entendre. I’m of course referring to the title of Piketty’s book (which I’ve read about 80% of, jumping around). But even more, I’m talking about his definition of “capital.” I’ve ranted frequently about economists’ failure to define this term or agree on […]

Two Yale law professors think they know what, exactly, the APPEARANCE of quid pro quo corruption looks like. They don’t. But I do.

If the president is to be taken seriously, it’s time for him to make campaign finance a centerpiece of the upcoming campaign. Despite appearances, serious reform remains possible within the new limits set out by the Roberts court. Obama should take full advantage of the chief justice’s explicit recognition that the “appearance of corruption” serves […]

Scotus Friday roundup

Pretty good company to be in! Friday round-up The Court’s decision on Wednesday in McCutcheon v. FEC, striking down the aggregate limits on contributions to political parties, political action committees, and candidates for federal office, continues to dominate coverage of, and commentary on, the Court.  Yesterday this blog kicked off its symposium on the decision […]

My early take on the ACA-contraception-mandate-case argument: Alito conflates the Securities Exchange Act with state-law corporate-structure statutes (yikes); Kennedy really, really wants to give corporations the full complement of human constitutional rights; and Scalia really, really needs to limit this ruling to an interpretation of the Religious Freedom Restoration Act.

When [U.S. Solicitor General Donald] Verrilli said the Court has never found a right to exercise religion for corporations, Alito wondered if there was something wrong with the corporate form that it would not be accorded religion freedom rights.  Did Verrilli agree, Alito said, with a lower court’s view that the only reason for a […]

Financing new economic activities and bankrolling speculation…

by Joseph Joyce  (is a Professor of Economics at Wellesley College and the Faculty Director of the Madeleine Korbel Albright Institute for Global Affairs) Too Much of a Good Thing? Global banks do not have much to cheer about these days. Earnings are falling, and the banks are responding by cutting jobs. The Federal Deposit Insurance Corporation has […]