Got you to look. I am using 18th century English, the title translates into 21st century English as “Paul Krugman’s Argument is clarified when the fact that it is precise is revealed” Krugman objects to Stephen Schwarzman’s use of the word “liquidity” which, he claims, conflates two different meanings. I think the word should be […]
While receiving subsidies is nothing new for the Forbes 400 or even multi-hundred millionaire pikers like Mitt Romney, a recent story in the Los Angeles Times (via Good Jobs First) shows that Elon Musk (#34 in the Forbes 400) is a champion at getting subsidies for his companies. According to the Times article, Musk’s three […]
Again Krugman writes about something I know something about. This time I enthusiastically agree (yeah I know big surprise there). he noted that, in efficiency wage models, it can be relatively easy to convince firms to raise wages. His presentation is (as usual) extremely, brief, clear, unwonkish and excellent. Then he linked to Arindrajit Dube […]
Paul Krugman is skeptical about the alleged negative effect of inequality on growth there have been a number of studies that seem to find a negative relationship, all based on some kind of international cross-section approach (some with time-series aspects too). So what is my problem? In general, I have doubts about the whole growth […]
This extraordinarily long and confused post is my response to Brad DeLong’s New Economic Thinking, Hicks-Hansen-Wicksell Macro, and Blocking the Back Propagation Induction-Unraveling from the Long Run Omega Point: The Honest Broker for the Week of May 31, 2015 Before the jump, I make only three brief points. 1) The phrase “the Long Run Omega […]
The basic reason is simple: it undercuts the broader progressive agenda. Also it buys into a particular Right economic meme. Both are huge mistakes. To understand this we need to step back and examine overall tax policy and tax progressivity. What should progressives want? Well I suggest that as a first step we restore top […]
The things we have in this country were given to us by God, not by government. — Perry: Government isn’t your savior, Nick Gass, Politico, today Social Security and Medicare were given to us by God? Who knew? The highway system, sewer and water systems, airports and air traffic control, operation of shipping ports, public […]
Via Steve Benen and Greg Sargent. The Washington Post/ABC News pollsters asked “Do you think the federal government should or should not pursue policies that try to reduce the gap between wealthy and less well-off Americans?”. 62% of respondents answered yes. This should be very unsurprising as it is roughly the same as the fraction […]
In the news, great attention has been paid to the activities of fast food workers striking to increase their salary up from minimum wage, their plight with fast food restaurants, and their heavy reliance on public assistance to get-by. Included with fast restaurant workers whose employers are represented by the National Restaurant Association are full […]
In about one month, the US Supreme Court will announce a decision on King Vs Burwell in which the plaintiffs argue that subsidies may not be paid to people who purchased health insurance on exchanges operated by the US Federal Government. The risk that they will win terrifies, among others, Senator Ronald Johnson (R-Wisconsin) who […]