On Richard Thaler Receiving The Nobel Prize This is a Sveriges Bank Prize in Economic Science in Memory of Alfred Nobel that I should approve of unequivocally, and I do approve of it. Dick Thaler has long been known to be on the list of likely recipients since at least when Daniel Kahneman shared it […]
The Times Handles the Trump Tax Cut Framework with Kid Gloves There’s been a good bit written about the Trump tax cut framework released just over a week ago. Most of it points out, as I have here and here, the absurdity of the claims by Trump and GOP spokespeople that this isn’t a tax […]
Scenes from the September jobs report On Friday I highlighted the difference between the results of the establishment survey and the household survey. A 2006 paper from the BLS (pdf) explaining the differences in how jobs are counted in the two surveys shows us why: Interviewers from the Census Bureau contact households and ask questions […]
The Tax-Cut Framework Won’t Create Jobs and Digs the Inequality Ditch even Deeper Marcus Ryu, a self-described Silicon Valley entrepreneur who created, with others, a company now worth $5 billion on the New York Stock Exchange, argues in today’s Op-Ed section of the New York Times that “Tax Cuts Won’t Create Jobs“, NY Times (Oct. […]
by Peter Dorman (originally published at Econospeak) Social Justice: Debt, Solidarity or Care? Mozi: scholar and activist How do we think about the obligation of social justice? The dominant American political culture is based on individualist values: you have a right to do whatever you want, and the main problem is how to prevent […]
Scenes from the September jobs report On Friday I highlighted the difference between the results of the establishment survey and the household survey. A 2006 paper from the BLS (pdf) explaining the differences in how jobs are counted in the two surveys shows us why: Interviewers from the Census Bureau contact households and ask questions […]
September jobs report: establishment survey stinks, but household survey rocks! HEADLINES: -33,000 jobs lost U3 unemployment rate down -0.2% from 4.4% to 4.2% (new low) U6 underemployment rate down -0.3% from 8.6% to 8.3% (new low) Here are the headlines on wages and the chronic heightened underemployment: Wages and participation rates Not in Labor Force, […]
Part of Patriotism is Paying Taxes As Americans, we pay taxes to allow our government to support important activities that we as individuals or individual businesses either can’t do at all or can’t do as successfully. Both individuals and businesses benefit from government, so that paying taxes is a wonderful exercise in patriotism. For individuals, […]
A thought for Sunday: of basic decency and humanity, and how the economy is shoring up the GOP A few threads of the Trump malAdministration came together this past week. The latest attempt to overturn Obamacare confronted Trump with a choice between his two main goals: basking in a Trump triumph vs. erasing all of […]
When attempting to repeal and not really replace Obamacare, various Republicans demonstrated opposition to the idea of insurance. They objected that healthy people shouldn’t subsidize the health care of sick people — that is their honest view of health insurance is that they are against it. I didn’t keep track of recent examples, googled, and […]