I apologize for actual discussing economics and health care today, but this one I couldn’t let lie. The University of Chicago’s Booth School of Business’s IGM Forum Mark Thoma) reports; you decide. If reducing the value of the policies held by those who are continuously employed, either by taxing them or forcing those people to […]

The AFL-CIO’s plans for a super PAC to take down Donald Trump ran into a big snag Monday, when one of the labor federation’s major affiliates objected to the involvement of billionaire climate activist Tom Steyer. Sean McGarvey, president of the AFL-CIO-affiliated North America’s Building Trades Unions, co-signed a letter with seven other union presidents urging federation President Richard […]

My post of 13 days ago is now current events. R.I.P., with a couple of reprises: Lyle Lovett discussing and covering the first song Clark ever wrote (and never himself recorded). I don’t know if Guy Clark was ever young, but I defy anyone this side of Prince or Bruce Cockburn to figure out what […]

In the study of economics, one learns the circular flow of the economy between firms and households. This post however presents another circular flow model based on capital and labor. (It is a closed economy with no government for simplification.) There are 4 pools within this circular flow related to the income and utilization of […]

Run’s post here discusses and elaborates on a comment by Barkley Rosser in the Comments thread to this post of mine.  I posted the following reply to Barkley’s comment, and reposted that comment as a comment to Run’s post: Barkley, I certainly share your fear that Trump actually could pull this off, but I don’t […]

Barkley Rosser made an interesting comment on one of the threads which is worthy of a separate posting. He is pointing out similarities between Trump and Reagan in saying whatever they want to say, backing away from them (it was just a suggestion), and never being held accountable for making statements devoid of facts. People […]

But one of Trump’s campaign advisers suggested Wednesday that Trump might indeed change Social Security and Medicare — but only after he has been in office for a while. “After the administration has been in place, then we will start to take a look at all of the programs, including entitlement programs like Social Security […]

by Joseph Joyce The Role of the U.S. in the Global Financial System The mandate of the Federal Reserve is clear: “…promote effectively the goals of maximum employment, stable prices and moderate long-term interest rates.” How to achieve those goals, of course, has been the subject of great debate: should the central bank use interest […]