Robert Waldmann Arnold Kling states a widely held view succinctly I see elite Democrats as exploiting “the poor” in order to pursue their own drive for power. People who genuinely care about the poor work with the poor and give their own money to the poor. Liberals mostly just pose about caring for the poor […]
by Bruce Webb People in comments on some of the previous threads have what are on the surface reasonable questions. These questions fall in part into two categories. Some long time followers of the Angry Bear Social Security series ask ‘Why are you still talking about this, we get it already’. While newcomers ask (and […]
By Spencer Much is being made of the recent bottoming of the Dry Ships Index of bulk cargo rates. Everyone assumes it is a signal of stronger demand. But there are two reasons the index could be bottoming. One is stronger demand. But the other could be falling supply as the index represents theloss minimization […]
rdan Instead of 3000 bytes total for js-kit comments we now have 10,000. I can set it for 5,000 if this affects loading time. Pre-view is on the way.
by cactus The bank bail-out that some of us said from the beginning would not succeed hasn’t. Now things have moved on, and we’re hearing about making it bigger or simply nationalizing one or more banks. Now, I proposed a solution a while back, but before I mention it yet again, I’d like to wander […]
rdan Andy Rooney comments on the headlines regarding the financial mess we are in, and the speeches. A transcript is at CBS news. I believe this will be the banner for the satellite Angry Bear for beginners.
by Bruce Webb In a variety of comments posts I have argued that the 1983 Social Security compromise was not intended specifically to prefund Boomer retirement using several pieces of evidence including this interview with the Executive Director of the Commission Robert Myers and Prefunding Social Security. Now as it turns out current projections indeed […]
guest post by Noni Mausa Why Save? We keep hearing about the responsible Americans of bygone days whosaved their money and bought things when they could afford them.These are distinguished from the careless present-day Americans whobuy things first and then scramble to find the money afterwards. At this point, we might ask ourselves — why […]
Robert Waldmann My effort immediately below to explain some general equilibrium theory in English didn’t work out so well. Here I will attempt to give simple examples which show how rational individual choice and/or trade between rational consenting adults can make everyone worse off. Models will all involve strange fruit trees, that is assets which […]
Robert Waldmann I’m not kidding. Someone in some thread said that he or she thought it would be great if I could give a simple intuitive explanation of Geanakoplos and Polemarchakis (1985). Also I would get an interesting perspective on the crisis if I could fly to the moon. I will try after the jump. […]