Naked Capitalism has an article The Continuing Depopulation of Detroit on Detroit which I attempted to answer. No one cause can be assigned to answer what happened to Detroit since 1950 and well before the first black Mayor was elected. I attempted to put this into perspective. This is not an easy and nor will […]
The story hardly bears repeating: Pricing is the ultimate miracle of Darwinian markets. Competitors who produce goods at lower prices thrive, expand their operations, and produce more. Those who charge higher prices (for equivalent goods) are driven to extinction when sensible purchasers abandon them for their more-efficient competitors. This inexorable mechanism drives innovation, investment, and productivity, […]
Dan here…Worth reading the whole 12 pages. (Hat tip New Deal democrat) Do economic crises reflect crises in economics? Keynote address, ‘Rethinking Economics’ conference, Stiftverband für die Deutsche Wissenschaft/Handelsblatt, Frankfurt am Main, 23 January 2012. Diane Coyle, Enlightenment Economics and Institute of Political and Economic Governance, University of Manchester The ‘series of unfortunate […]
I will present a way to determine potential real GDP using a regression of past data. First take the official CBO potential and subtract it from real GDP. When the red line is above zero (0), real GDP is over potential. Normally the red line rises above potential before a recession. So it looks as […]
I think you want to read this excellent post by Jonathan Chait. That is all. update: US partisanshipe appears to be the meme of the day. Dana Milbank (who is very different from Chait) also wrote about it. Milbank cites a different academic study. From the brief summaries both academic studies sound very convincing to […]
Long time readers of Angry Bear will be familiar with the Northwest Plan for a Real Social Security Fix. It has been pushed here in a series of posts and in innumerable comments (mostly by Dale Coberly) since 2009 including this core post: NW Plan for a Real Social Security Fix Ver 2.0: 2009 Trigger. […]
Tax day has come and gone and nothing extraordinary happened (at least nothing extraordinary enough to be reported by the Washington Post or the New York Times). This non news should be news, because the much hated Obamacare mandate has been applied. Some Refund checks (many of which have not have been mailed yet) were […]
As any conservative can tell you, Obamacare is a job-killing “train wreck.” Not only is it a job killer, there is no way that it could possibly work. Except, of course, it does. When I last visited this issue, the percentage of adults without health insurance had fallen from its peak of 18.0% in the […]