The greatest goal of economics is to maximize net social benefits. Just imagine how great the United States is. We have great resources in terms of human and capital. Then look at how poorly the economy is performing for society. Obviously, something is wrong, terribly wrong with the economy. What can the Fed do? Can […]
“Always click the link” — Kevin Drum In his latest Op-ed Paul Krugman wrote ” Americans overwhelmingly believe that the wealthy pay less than their fair share of taxes, and even Republicans are closely divided on the issue.” I would have guessed that a majority of rank and file Republicans agree with all Republican presidential […]
– by New Deal democrat Part 1 The decline in prime age labor force participation: the smoking gun (part 2 of 2); comparing June Cleaver and Roseanne Conner I recently wrote about the compelling evidence that the biggest reason for the decline in the prime working age labor participation rate was the “child care cost […]
Marco Rubio spoke today to a large group of Iowa Republican activists and urged them to “turn the page on outdated leaders of both parties“. They agreed to do that, and started chanting “Feel the Bern.” Returning to 1920s economic and social policies—which, point by point by point, actually is what he wants to do—is indated […]
A fat cat is not in good shape. And feeding it more, will not give it energy to be more athletic. Greenspan said… “in assessing real rates [of interest], the central issue is their relationship to an equilibrium interest rate, specifically the real rate level that, if maintained, would keep the economy at its production […]
[Rubio] turned a question about his finances into an opportunity to retell his compelling family narrative, and then, into even sweeter lemonade: “I’m not worried about my finances, I’m worried about the finances of everyday Americans who today are struggling in an economy that is not producing good paying jobs while everything else costs more.” […]
I just notice that in the second quarter of 2015 US real gross private domestic investment surpassed US real government consumption expenditures & gross investment for the first time since the data have been collected (1947). The long era of US socialism as lead by Eisenhower, Nixon, Reagan and the Bushs has ended under raging […]
by Barkley Rosser (Econospeak) VSPs Get Their Way With Budget Deal: Social Security Benefits Are Cut All the Very Serious People are jumping up and down and cheering. We have a budget deal in the House and the debt ceiling is being raised and there will be no more artificial budget crises until […]
Bill Clinton had a line during his 1992 campaign that he said, mantra-like, so often in fact that eventually it lost its meaning and was just a cringe-inducing song-like chorus. The line, the slogan, was, “People who work hard and play by the rules.” It was—until he repeated it to a point well beyond when people […]