Robert Waldmann points to Song of PI:

Dan Crawford notes Paul Krugman’s change of heart on the increasing importance of automated systems, in particular robotics: 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 […]

by Tom aka Rusty Rustbelt Security 101 This week I visited my grandsons’ elementary school four times, three times through the front door and once through a side door. I immediately had the run of the entire building if I so desired. The only line of defense was the receptionist, who gave me a wave because […]

The ever hopeful infinitely patient Ezra Klein attempts to find good Republican proposals for health care cost control.  He notes that the Congressional leadership’s proposal to raise the Medicare eligibility age would increase total health care spending and sins grievously against Ballance writing “But an increase in the eligibility age would be a trophy that […]

Worth reading the whole article. Robert Eisner, Budget deficits and rhetoric, Journal of Economic Perspectives, Spring 1989 (Hat tip reader juan)

Krugman’s leeches analogy today spurs me to comment: If the police department in your town is doing a bad job and the crime rate is high, the obvious solution is to cut funding for the police department! Sounds a lot like bloodletting theory, dontcha think? We’ll just drain off the bad blood! It’s so simple […]

Last night, in a comment to my post from Tuesday, “Do‘Right to Work’ Laws Violate the Constitution Contracts Clause?”, reader PJR wrote: To a non-lawyer, it kinda looks like SCOTUS rejected the contracts argument in 1949, so unions would have to find someway to get the court(s) to reconsider–or is this wrong? If wrong, why […]

Paul Krugman Dec 13 2012 after the surprise announcement and market reaction. So philosophically, this represents a conversion to the Evans criterion for rates and the Woodford/Krugman doctrine about monetary policy in a liquidity trap.Substantively, however, there isn’t that much going on here. Basically, Bernanke is promising that the Fed won’t do anything stupid — […]

From the BLS: The 30 occupations with the largest projected employment growth, 2010-20of the top ten, only teachers and nurses require a degree…and four don’t even require a high school diploma for entry…(hat tip reader rjs)

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 […]