Ex Macroeconomist Noah Smith argues that it is a good thing that there are professional macroeconomists.  He has two arguments 1) So does this mean that macro research is useless for policymaking? No! Not at all!! Because here’s an interesting thing about policymaking: No matter who advises the policymakers, policy is going to get made. […]

Erica Payne sent out a request for writeups from Patriotic Millionaires members, and I provided this. I hate not to re-use perfectly good copy… I live (quite well) off financial investments — no need to work any more — and my taxes every year are ridiculously, embarrassingly low. Meanwhile tens, hundreds of millions of hard […]

Matthew Yglesias riffs off my recent post, “Saving” ≠ “Saving Resources,” and there’s been quite a bit of commentary there, plus on Asymptosis and Angry Bear (plus a bit of twitter talk that I can’t figure out how to link to easily and usefully). There are a dozen things I want to discuss on the […]

by Linda Beale Obama caves yet again: offering Social Security cuts to appease the right… Obama’s budget isn’t even released yet and he’s already caving to the “let’s make the rich richer and forget the rest” crowd.  That crowd that claims that we need a capital gains preference so the rich can gather all that […]

What you don’t know can hurt you. I think that’s a clear lesson of some so-called trade agreements the United States has signed over the last 20 years, and illustrated further by the few that have been defeated, most notably the Multilateral Agreement on Investment, negotiated by the Organization for Economic Cooperation and Development from1995 […]

by Mike Kimel The Fed, Primary Dealers, and the Ineffectiveness of Monetary Policy The Federal Reserve’s primary tool for monetary policy is buying or selling securities, in particularly US notes, bills and bonds. But… it doesn’t buy and sell bonds to you and me. Instead, it deals with primary dealers – the complete list is […]

Real News interviews  Jeannette Wicks-Lim is an Associate Professor at the Political Economy Research Institute in Amherst, Massachusetts. Wicks-Lim specializes in labor economics with an emphasis on the low-wage labor market… WICKS-LIM: Well, one of the things I’ve been thinking a lot about is that because of the recent proposal by President Obama to raise the […]

Many economists — mostly the freshwater/neoclassical/supply-side/conservative types, but also many on the left — hold in their heads a very peculiar model of how economies work. It’s a model of a barter/real-goods economy in which money only plays the role of convenience. In this model, if you don’t eat some portion of the corn you […]

PGL at Econospeak notes: Darla Cameron and Jia Lynn Yang want to report on how US multinationals are shifting profits to foreign tax havens but their key statistic is the ratio of US tax expenses to worldwide profits: A Washington Post analysis of data compiled by Capital IQ found that in the late 1960s and […]