Having heard Senator Sander’s discussion on the floor, I thought the outing of the republican vision for this nation in total should be preserved on the net in writing.  People hear bits and piece but never put the entire picture together.   Maybe reading the list will help people picture the finished house the conservative mind […]

by Robert Waldmann Matt Yglesias says the median household is probably richer than the median household in 1989.  Oh that we have come to this.  Take the mike Matt Despite rising health care and education prices, we don’t have fewer people going to college or seeing the doctor and we do have bigger houses, more […]

Lifted from comments at Naked Capitalism, September 21, 2013 at 4:33 am Henry Maxey in April 2007. This is frigging amazing work, and by an equity analyst, working at a UK money management boutique. In other words, somebody with not much, and probably no access to the guys on fixed income desks who were cranking […]

If capital can always flee from one bubble to another bubble in another country, there will always be bubbles. Is it sustainable to always have bubbles somewhere that can give refuge to fleeing capital? …….. Probably yes, in spite of the problems left behind. Many years ago, I was in the Zocalo, central park of […]

I have been reading David Romer’s class notes called Short-run fluctuations. Part of his paper deals with a model to explain inflation in a liquidity trap. The model is based on real interest rates, output, expected inflation, Keynesian cross and IS-MP model stuff. He writes… “An economy where the nominal interest rate is zero poses […]

An issue arose in the comments at a previous post, Labor share is chopped liver to Mr. Krugman. The issue is whether increasing employment in order to increase wages and labor share is a good strategy for fiscal and monetary policy. Dean Baker, Paul Krugman and others put forth this strategy. It seems common understanding […]

Greg Mankiw reviews a paper written trying to support minimum wages. Mr. Mankiw is not in favor of minimum wages and was not sold by the paper. The best paper that I know of on minimum wages was written by Bruce Kaufman. His paper was titled, Institutional Economics and the Minimum Wage: Broadening the Theoretical […]

When someone is not being noticed, there’s the saying, “What am I? Chopped liver?” There is something that Paul Krugman is simply not noticing. First, let me quote Mr. Krugman from his recent post, The Depressed Economy is all about Austerity. “I don’t want to pretend to spurious precision here. Instead, I just want to […]

Sorry for such thin postings lately but life happens. Hat tip to stormy for this reminder of a trade agreement not making the news. Use TPP in search to see other postings from Kenneth Thomas and Dan Becker: Via Truthout comes this item So far, the TPP has been drafted with an unprecedented degree of […]

I have gone a bit quiet on the QE front. Obviously, this is because I have been surprised and my pet theory has taken a beating. The theory was that QE amounts to basically nothing much. The dramatic effects on asset prices due to Abe/Kuroda announcements in Japan were seriousy damaging. But now not all […]