Paul Krugman points us to problems with economic writing by Moore: Last summer the editorial page editor of the Kansas City Star declared that she won’t be running any more op-eds by Stephen Moore, chief economist of the Heritage Foundation. She had cause: Moore had published an article that purported to refute my debunking of claims […]
Krugman and Moore
TARP Bottom Line
Lifted from Robert Waldmann’s Stochastic Thoughts TARP Bottom Line TARP Books Closed (give or not give less than $ 1 billion). According to Lew, the total profit for American taxpayers on TARP investments stands at $15.35 billion. The NYT report added, “Less than $1 billion in taxpayer funds remain scattered in about 35 community banks […]
From: ASPCA To: Me
From: ASPCA Today at 10:41 AM To: me We’re so close to our goal. Unsubscribe | View Online | Please add [email protected] to your contacts. Dear Beverly,Earlier this week we sent an email about a last-minute tax deduction, and the response we received was more than we ever could have hoped for: Thousands of animal-lovers all around the country donated to help […]
Marginal producers of oil?
Yves Smith adds her thoughts on possibilities of the market price decline for oil: When the Saudis announced their intention not to support oil prices when they were sliding towards $90 and plunged quickly through that level, we deemed the move to be a masterstroke. It served to damage both economic and political enemies. On […]
Dean Baker on part time employment
Lifted from comments: Dean Baker adds a comment on Spencer England’s post on Part time employment statistics being (Spencer writes…”John R. Graham is a beautiful example of a little knowledge being a dangerous thing. The researchers at the right wing think tanks scour the economic releases for anything that they can spin to sell their […]
Variables for an Effective Demand Limit to the Business Cycle
Noah Smith states that there is no “cycle” to the business cycle. (link) My response on twitter was, “…there can be definable limits without a cycle.” Can we define the limit of a business cycle? I have a model that describes what a limit to the business cycle might look like in terms of a […]
On Williamson on Waldmann
Stephen Williamson wrote a critique of this post which critique was praised by David Andolfato and Noah Smith. Williamson critiques the Keynesianism defined as So, as I learned from Dick Lipsey in 1975, and my cat learned last fall, Keynesian Cross is (1) C = A + cY, (2) Y = C + I + […]
Open thread Dec. 30, 2014
Krugman, 1980 And All That
Dan here…Paul Krugman New York Times Dec. 24 notes Robert’s thinking on current story lines by some economists in macromedia. Other posts by Robert on the subject can be found here, here, here, and here. Krugman writes: Robert Waldmann is shocked, shocked, to find conservative economists not doing their homework: Even now, I am shocked that economists didn’t bother to […]