I grab a rare opportunity to criticize Paul Krugman. He is, again, discussing the roll out of Nate Silver’s new fivethirtyeight.com with concern bordering on dismay. Krugman’s concern is that he fears that Silver thinks that data are enough just by themselves without any theory (even the humble kind that calls itself a model). I […]
MIAMI (AP) — Breast cancer survivor Ginny Mason was thrilled to get health coverage under the Affordable Care Act despite her pre-existing condition. But when she realized her arthritis medication fell under a particularly costly tier of her plan, she was forced to switch to another brand. Under the plan, her Celebrex would have cost […]
by David Zetland (is a ‘water’ economist who blogs at Aguanomics) re-posted Self-evident water delusions BB sent this press release from California Congressman McClintock, to which I will give a few reactions… Self-Evident Water Truths (February 27, 2013 to ACWA) Water – particularly in California – has become such a complicated tangle of competing interests […]
Paul Krugman continues his illumination into the significance of a falling labor share, as he reads Thomas Piketty’s Capital in the 21st Century. Mr. Krugman rarely writes about labor share but that looks to be changing. Piketty describes the growing power of capital income as “patrimonial capitalism”, where an elite gain control through inheritance and […]
Via the UN comes a day for us to note the role of potable water and sanitation throughout the world. We in New England are blessed with an abundance of freshwater, but other parts of the US are beginning to face real shortages where competing interests are clashing. More posts to come on particulars. At […]
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Paul Krugman recently wrote two blog posts on monetary policy in a liquidity trap. In “Timid Analysis” Krugman presents a model in which Nash favors the bold But a necessary (not sufficient) condition for this to work is that the promised inflation be high enough that it will indeed produce an economic boom if people […]
Remember the Economic Report of the President? Of course you do. It’s where we get our annual data on real wages (and apparently some other stuff, too). The 2014 edition was released on March 10. As you may recall, I made my first post on the declining real wage trend through 2011 and was literally […]
On the IMF’s global economy forum, Dennis Botman and Zoltan Jakab published an article that Japan needs to push for higher wages. They say what I have been saying for some time here on Angry Bear. … And this story of low wages in Japan applies to the US and Europe too. 1. Wages and […]
This quote at Dailykos caught my attention on trends for the generic drugs markets: For years, doxycycline has been a valuable drug for physicians who treat the indigent — unemployed or underemployed folks without insurance. A staple of $4 drug lists, it can be used to treat everything from bronchitis to “walking” pneumonia to urinary […]