Paul Krugman recently wrote two blog posts on monetary policy in a liquidity trap. In “Timid Analysis” Krugman presents a model in which Nash favors the bold But a necessary (not sufficient) condition for this to work is that the promised inflation be high enough that it will indeed produce an economic boom if people […]
Remember the Economic Report of the President? Of course you do. It’s where we get our annual data on real wages (and apparently some other stuff, too). The 2014 edition was released on March 10. As you may recall, I made my first post on the declining real wage trend through 2011 and was literally […]
On the IMF’s global economy forum, Dennis Botman and Zoltan Jakab published an article that Japan needs to push for higher wages. They say what I have been saying for some time here on Angry Bear. … And this story of low wages in Japan applies to the US and Europe too. 1. Wages and […]
This quote at Dailykos caught my attention on trends for the generic drugs markets: For years, doxycycline has been a valuable drug for physicians who treat the indigent — unemployed or underemployed folks without insurance. A staple of $4 drug lists, it can be used to treat everything from bronchitis to “walking” pneumonia to urinary […]
Via Naked Capitalism reminds us of several thing about the current round of trade agreements, which would increase the ability of international corporations to sue governments both local and national for ‘loss of profits’. As the Obama administration negotiates new trade agreements with European and Pacific nations, a battle has emerged over the agreements’ egregious […]
by J Tizimeskes (who is currently juggling a job in the private sector while studying for a Wayne State MBA, getting a blog post or two in when he can. Previously, he worked for New York State and holds a Masters in Political Science from University at Albany and a biology degree from University of […]
Mark Thoma is absolutely correct when he writes… “The wealthy think it’s the same — in their minds they are the job creators, what’s good for the wealthy is good for America! — but it’s not.” This is where I have to ask the question… So if loose monetary policy is good for the wealthy, […]
by Joseph Joyce (is a Professor of Economics at Wellesley College and the Faculty Director of the Madeleine Korbel Albright Institute for Global Affairs) Too Much of a Good Thing? Global banks do not have much to cheer about these days. Earnings are falling, and the banks are responding by cutting jobs. The Federal Deposit Insurance Corporation has […]
It’s always the same map. Here from Brad Delong is the map of the percentage who were slave by county in 1861 here is the corresponding area of a map of intergenerational relative income mobility by county from R Chetty 2014 (warning pdf) update: link updated thanks to Amanda. thanks
by J Tzimiskes (who is currently juggling a job in the private sector while studying for a Wayne State MBA, getting a blog post or two in when he can. Previously, he worked for New York State and holds a Masters in Political Science from University at Albany and a biology degree from University of Toronto. He […]