Relevant and even prescient commentary on news, politics and the economy.

Do ‘Right to Work’ Laws Violate the Constitution’s Article I Contracts Clause? [Updated]*

No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts; pass any Bill of Attainder, ex post facto Law, or Law impairing the Obligation of Contracts, or grant any […]

SOCIAL SECURITY and Uncle Sam

by Dale CoberlySOCIAL SECURITY and Uncle Sam moving parts edition Most of us have heard the “phony iou” claim about the Social Security Trust Fund, with its accompanying cartoon of a hapless Uncle Sam furiously borrowing from his left pocket to fill up his right pocket, and stuffing “worthless iou’s” into the left pocket to […]

Creating the Commons: A Tragedy in No Acts

Two articles in The New York Times today got me thinking about the tragedy of the commons. This is not new thinking, but it’s not widespread enough, in my opinion. And, I hope this expresses it in a somewhat new way. One of the articles talks about the ongoing failure of pharmaceutical companies to develop […]

NYT Series Illuminates – And Confuses – State of the Subsidy Wars

Louise Story’s series in the New York Times this week has created a substantial buzz about the issue of economic development subsidies.This is a welcome development, because it’s an issue that doesn’t get nearly enough attention in the highest profile media. Story has, in addition, appeared on shows such as MSNBC’s “Morning Joe” and NPR’s […]

Many types of tech, not just robots

by Mike Kimel Many types of tech – not just robots – have been affecting and are going to affect the service sector. When someone develops an inexpensive sign you can stick on top of television sets, racks of clothes, or appliances that will change itself whenever someone in the headquarters decides to change the price of the product, […]

Paul Krugman changes his mind on impacts of automation

In the past discussions at Angry Bear on the impacts automation might have on our lives, and the economics   involved,  gathered comments such as “You are a neo luddite”. As if widespread use of automated systems was automatically good for us overall because we would have access to ‘more higher wage and higher skilled […]

Brands and generics pharmaceuticals…

The case is Federal Trade Commission v. Watson Pharmaceuticals et al, No. 12-416.   Via the New York Times comes this note: Last year, for the third time since 2003, the 11th Circuit upheld the agreements as long as the allegedly anticompetitive behavior that results — in this case, keeping the generic drug off the market […]