As a naive young noodler on economic topics I always wondered: Why are players in the financial industry — which produces very few real, human, consumable goods and services that people value in their lives — so well-paid? I figured it out pretty quickly: it’s because they are able to control who gets that real […]

This particular post was first picked up at Economist’s View and fits with Sandwichman’s posts on Labor. I have been watching Participation Rate in conjunction with U3 since 2001 along with others such as Laurent Guerby and while the US has decreased in the numbers of people in the Civilian Labor Force, our counterparts in […]

                    Jen Sorensen

I was reluctant to read this post by Paul Waldman Obama must fix VA scandal to redeem liberal vision of government. In general, I think very highly of him and think he does our [n]name proud. The post is OK, but I will criticize it. My reaction to the Veterans’ Administration scandal was first to […]

I have been following Sandwichman for a long period of time. Since I do shop floor throughput exercises which no economist appears to understand in a micro sense, Sandwichman comes the closest to what I deal with on a day to day basis. Paul Krugman in 2003: “Traditionally, it is a fallacy of the economically […]

In a post yesterday, I presented a graph of how inflation moves with changes in the Fed rate. I want to explore the graph further, because at some point the Federal Reserve will start to steadily raise their nominal Fed rate. How might inflation respond when the Fed rate starts to increase? The orange line […]

I’ve bruited the notion in the past that “money” should be technically defined, as a term of art, as “the exchange value embodied in financial assets.” In this definition, counterintuitively relative to the vernacular, dollar bills aren’t money. They’re embodiments of money, as are checking-account balances, stocks, bonds, etc. etc. Money and currency aren’t the […]

AB Introduction: For a while now, Angry Bear has been featuring some of Maggie Mahar’s articles about Healthcare, the PPACA, and costs. Besides being a former 20th Century Foundation Fellow Maggie’s has also written as a financial journalist for Barron’s, as well as articles for Time Inc., The New York Times and other publications. Her […]

Via Naked Capitalism, Yves writes: If you are in Boston and not leaving town on Friday, please consider seeing some or all of this full-day program at Harvard Law School: Institutional Corruption and the Capital Markets, sponsored by the Safra Center on Ethics. How often do you hear Serious People talking about systematic corruption, and […]