G. has to leave the Eurozone. No not Greece Germany. Germany and a bunch of small Northern countries use the undervalued Northern Euro as their currency while we use the over valued Mediterranian and Irish (or Catholic and Orthodox) Euro. We need one more flexible exchange rate somewhere between them and the Sea. If Greek […]
‘Small business representative’ still has some meaning for people, but of course the term is gamed constantly in the political arena. Via Alternet comes this example: This morning, NPR’s Yuki Noguchi wanted to know how an ordinary small business owner feels now that the Obama health care law has been upheld. So she turned to […]
There is and will be a lot of conversation about the efficacy of the ACA (Affordable Care Act), whether it is a step to deal with the health care cost juggernaut or mostly a boon to private insurers. What is true is that ‘medical inflation’ has resumed to previous levels of year to year increase […]
lifted from Robert’s site: Katherine Eban reported in the notorious left wing rag “Fortune” that everything Republicans have been saying about “Fast and Furious” up until yesterday when they found Eric Holder for contempt of Congress (for only handing over 7,600 pages of documents and insisting that ongoing investigations are protected by executive privilege) is […]
Dean Baker notes that liberals have let the right wing get away with the small government mythology… It is astounding how liberals are so happy to work for the right by implying that conservatives somehow just want to leave markets to themselves whereas the liberals want to bring in the pointy-headed bureaucrats to tell people […]
Paul Krugman writes that Keynesian thought has progressed. I disagree in comments with the usual I do not think that Keynesians accept that there is a natural rate of unemployment. The concept is inconsistent with hysteresis. OJ Blanchard and LH Summers are definitely Keynesians. They presented a model without a natural rate in 1986. I […]
Well, this is a politics and economics blog, so I need some rationalization for celebrating Sixteen years, sixteen banners united… (I sadly note for the record that, unlike Brad DeLong, I did not try to avoid finding a Dylan version of a Dylan song—there just wasn’t one on YouTube.)
A lot of people out there seem to have the notion that Greece’s troubles are the result of laziness. That really doesn’t seem to be true. OECD: Average annual hours actually worked per worker 2000-2010 Germany 1473 1458 1445 1439 1442 1434 1430 1430 1426 1390 1419 Greece 2121 2121 2109 2103 2082 2086 2148 […]
The second biggest surprise of the day, after the survival of the Affordable Care Act, is that we’ve never really gotten over our collective crush on John Roberts. How else to explain today’s outpouring of praise, not merely for the decision but for the man himself, for his statesmanship and judicial modesty? All these years, […]
It was only last week when liberal pundits were more alert. Well, some of them weren’t—after all, we’re talking about people identified as “liberal” by those who consider Ross Douthat and David Brooks to be mainstream. What some of them knew about Arizona, all of them appear to have forgotten about PPACA. The Supreme Court […]