Over 50% of all wealth in the US is inherited not earned I got waylaid putting together a very detailed post about how the newly-widened Panama Canal is disrupting the internal US transportation network. When it goes up at Seeking Alpha, I’ll link to it. In the meantime, here is something that I found a […]
Alan Krueger And Happiness It took awhile for me to remember after his apparent suicide that the late Alan Krueger was the coauthor of what I consider to be the best paper published on happiness economics, “Develpments in the Measurement of Subjective Well-Being,” Journal of Economic Perspectives, 2006, 20(1), 2-24, https://www.aeaweb.org/articles?id=10.1257/08953300677 . (I apologize if that […]
… And, the 10 year treasury yield inverts Yesterday over at Seeking Alpha I wrote about how the Fed is boxed in. The essence of the article is that, while lower rates are good for the housing market, a fuller yield curve inversion adds to the evidence that a recession may take place first, unless the Fed […]
A couple of nuggets of good economic news Sometimes there is almost no economic news at all. This isn’t one of those times. Because there have been increasingly ominous signs among the long leading indicators, that have been spilling over into the short leading indicators, suddenly there are a lot of signs and portents to […]
No More Fed Rate Hikes in 2019… The fundamentals are “sound”?: PICTURE = 1000 WORDS
by New Deal democrat The widened Panama Canal is disrupting internal US transportation patterns The newly-widened Panama Canal opened to traffic in late 2016. Since then, there have been several ongoing disruptions in how goods are transported from suppliers in Asia to their ultimate markets in the US, including affects on seaports, trucking, and rail. […]
Introductory Econ Textbooks: A Different Take on the Issues My eyes were drawn to Timothy Taylor’s gloss on Greg Mankiw’s ruminations on the life of an econ textbook author. As such an animal myself (Microeconomics and Macroeconomics: A Fresh Start), I’ve thought about many of the same questions. Differently. Issue #1: How do you teach the introductory economics courses […]
The fundamentals are “sound”?: PICTURE = 1000 WORDS
Dylan Matthews has a typically excellent explainer about taxing the rich. Just click the link. I have one thought. Matthews is soft on capital income. Matthews wrote Saez and Diamond also argued that capital income — income from things like capital gains, corporate profits, dividends, etc. — should be taxed, which broke with previous models […]
A Small Anecdote about Alan Krueger It was back at the beginning of the 1990s, and I was putting together a panel on NAFTA for the ASSA meetings. This would be URPE’s big plenary at the event, and, among others, I was able to enlist Cuauhtémoc Cárdenas, a leader of uncommon integrity and seriousness of […]