by Steven Roth “In the Beginning…Was the Unit of Account” – Twelve Myths About Money November 19th, 2017 Jan Kregel presented a great dinner speech at the recent Modern Monetary Theory Conference, touching on some of the fundamental ways we think about money and economics. (Sorry, no recording or transcript available.) I had a brief conversation with […]
Devin Smioth at New Economic Perspective points us to ‘where does the money go?”: After President Trump signed the GOP tax plan into law, some of the bill’s corporate beneficiaries have offered workers minor bonuses. But NEP’s Bill Black says they’re keeping most of the money for themselves — and starting a new global race […]
Support the Census The alarm has been sounded that Trump’s census apparatchiks are planning to include a citizenship question in the short form that will be used to generate the full count in 2020. This count, mandated by the constitution and conducted every ten years, is the basis for voting district apportionment and formulas for allocating […]
Trump celebrates his (very expensive) tax cuts for himself and his rich golfing buddies Remember how Trump sold the Republicans’ $1.5 trillion-deficit-creating tax cut plan as a boon for the middle class that was going to create jobs and raise wages? That was in September, when he told congressional lawmakers at the White House that […]
By Steve Roth (originally published at Evonomics) Today’s mountains of wealth throttle the very engine of wealth creation itself. Insanely Concentrated Wealth Is Strangling Our Prosperity Remember Smaug the dragon, in The Hobbit? He hoarded up a vast pile of wealth, and then he just hung out in his cave, sitting on it (with occasional forays to […]
This National Bureau of Economic research paper is behind a paywall, but the premise is up for discussion: This Paper challenges two widely held views: first that trade performance has been the primary reason for the declining share of manufacturing employment in the United States and other industrial economies, and second that recent productivity growth […]
By Steve Roth (from 2016 October 2) Democracy. Capitalism. Socialism. Choose Any Three of the Above If you don’t have a big bathtub of oil in the ground, you need all three to deliver widespread economic well-being. In the millennias-long evolution of human societies and economic systems, we find ourselves today at a pass where three systems predominate, and fitfully […]
Rep. Tom Garrett is a Republican representing Virginia’s 5th Congressional District. He is a member of the Committees on Education and the Workforce, Homeland Security, and Foreign Affairs. He presents a problem: We can’t afford to lose the energy, ideas, and vision of young people who give up their dreams of going to college because […]
I should title this: Yeah, it is just like 1929 you freak’n see, hear, and speak no inequality monkeys. I have this pile of income data sorted out from Saez’s work (the GDP is BEA). My thoughts regarding our economy is that income inequality (or equality) matters. It matters so much, that it is the all […]
Jennifer Berkshire pointed Peter Greene to: The election of Donald J. Trump as president offers the best opportunity in decades to shrink the size and power of government and increase individual liberty. So writes the Heartland Institute, a libertarian thinky tank, on a page devoted to all the Trumpian actions they approve of. This outfit was founded in […]