Religious liberty, [Tenth Circuit Court of Appeals] Judge Tymkovich wrote, cannot turn on whether money changes hands. “Would an incorporated kosher butcher really have no claim to challenge a regulation mandating non-kosher butchering practices?” he asked. — Court Confronts Religious Rights of Corporations, Adam Liptak, New York Times, today Why, yes, Judge Tymkovich, of course […]
The economy is nearing the natural level of real GDP and economists are saying that the natural rate of interest is negative. Now the natural rate of interest is the equilibrium interest rate when real GDP reaches its natural level. It is absolutely crazy to think that the natural rate would be negative… absolutely crazy. […]
Okay, once again I’m going to sacrifice my body here, risk looking stupid by asking what seems to me to be a vexatious question. Here’s the setup: When you exchange some of your money (bank deposits) for some shares of Apple stock, those shares aren’t removed from the supply of Apple shares. (Likewise your “money”; […]
Lambert Strether and Bob Goodwinn via Naked Capitalism offer a point of view on how law is being implemented through large system programming, as it played out in the MERS system of property ownership fait accompli, and other systems.
Via Digsby Oh, my goodness. Can it be that Fix the Debt is using patented right wing astroturf tactics?Say it ain’t so! Our friend Jon Romano, press secretary for the inside-the-beltway PR campaign “Fix the Debt” and its pet youth group, The Can Kicks Back, have been caught writing op-eds for college students and placing […]
Barry Ritholz offers this observation: One of my biggest complaints about the media is the lack of accountability. People say things on TV in print an on radio, and then . . . Poof! No consequences. They influence public perception of issues, affect policy debates, drive legislation. This is a perfect example of a stern […]
From Equitable Growth with Brad DeLong: This means a roughly $60 billion direct federal transfer away from Red States over the next two years, and roughly $200 billion in lower economic activity in Red States–call it a negative of 4%-point-years of GDP, and of 2%-point-years of excess Red State unemployment. Interesting times…
I have written before about the gross waste of taxpayer monies on retail in the St. Louis region. According to the East-West Gateway Council of Governments (p. 18), governments in the bi-state metropolitan area pumped about $2 billion worth of subsidies into retail projects from 1990 to 2007, but only saw a net increase of […]
One party’s perspective of Healthcare. Hat Tip to Hullabaloo Answer the question, what is the alternative to the PPACA??? Neither the Republicans, the Healthcare Industry, or Healthcare Insurance has come forth with a solution.
Lifted from Robert’s Stochastic Thoughts New Keynesian Good Two Keynesian Better Oddly, Paul Krugman seems to have perceived my observation that he is a two Keynesian rather than a new Keynesian as a criticism. In fact I much prefer simplest new Keynesian models to standard obscure new Keynesian models. Oh hell, my damn comment was waaay too […]