Stairway to Serfdom I posted the above chart four days ago in “From Social Distance to Social Justice” to illustrate Arthur Dahlberg’s argument about the eventual consequences of a declining labor share of income. Dahlberg was inspired by Stephen Leacock’s The Unsolved Riddle of Social Justice and both Leacock and Dahlberg were influenced by Thorsten Veblen. The chart […]
Trends in US States compared by coronavirus response I mentioned over the weekend that I wanted to break out and look at some different aspects of the coronavirus pandemic. Here’s the first: how are States at different ends of the restrictions and testing spectrums faring? Seven States have never even mandated lockdowns. Let’s look at […]
Towards a modern “History of Republics”: a consideration of William Everdell’s “The End of Kings: A History of Republics and Republicans” In view of the horrific damage that the Trump Administration has done to the American Republic, during the past year I have done extensive reading of the histories of a number of the most […]
The Art of Juxtaposition Seen in today’s New York Times in Print:
The Usual Deficit Blather from the New York Times The Times today ran a truly execrable article warning us that, once the virus has passed, we will suffer dire consequences from the runup of government debt. As most readers know, this argument is theoretically illiterate, derived from the false comparison between household and government debt. We’ve been […]
Prairie du Chien Selects Jill Karofsky Over David Kelly! I have previously posted on the highly swingy politicsal nature of southwestern Wisconsin, symbolized by the town there at the mouth of the Wisconsin River, French-founded Prairie du Chien (named for an Indian cheif, it turns out, who was “Dog of the Prairie” in English). It […]
Trump Defunds WHO and USPS: Will Motherhood and Apple Pie Be Next? Yes, Trump is out to cut the roughly half a billion $ US contribution to the $6 billion budget of the World Health Organization (WHO). It seems that he now sees his path to reelection to be based on blaming China for the […]
Consumer prices sharply decline in March: keep your eye on wages This morning we got some monthly economic data that will be actually valuable to watch throughout this Coronavirus Recession: consumer prices. That’s because during recessions, consumer price growth decelerates, as does wage growth, which continues to decelerate well after the recession bottoms out. […]
The Climate Crisis and the Green New Deal The Covid-19 pandemic won’t last forever, and at some point we will have to return to figuring out how to respond to the climate crisis. (What a depressing opening line. No, I have no desire to live in a world of permanent crisis.) Is the answer a […]
Remdesivir and Transfer Pricing Part II Now that I sketched out the transfer pricing for Gilead Sciences with respect to their successful HIV and Hep C products (as much as I can say based on publicly available information), it is time to speculate a bit on how Remdesivir may play out. There is a lot we do […]