It took me many years to understand the phrase “moral hazard.” It’s a fundamental tenet of economics, usually used to explain that, since consumers are untrustworthy, businesses need to charge them more.* It was finally cleared up for me in the midst of a presentation last year about how it’s a “moral hazard” issue that […]
By Spencer, The unemployment rate jumped to 10.2%. Except for the peak rate of 10.8% after the 1982 recession this is the highest in the post WW II era. The overall tenor of the report was very similar to the past three months reports and sent the message that the economy is no longer collapsing […]
lifted from comments by run 75441 These are comments that I found interesting describing change to manufacturing processes over tha last few decades. It made for a foil next to Martin ford’s projections and our understanding of past events. It is not a post but I learned a few things. “The key example is stamps […]
Martin Ford offers one man’s look into the future of a world in the USA of the results of continued increasing productivity, increasing income inequality, declining wage compensation, and consumption supported by debt. Robert touched on the issue recently, and Sandwichman has developed a range of thoughts on labor at Econospeak. One post cannot handle […]
by Divorced one like Bush Bruce Webb put up a post titled “Health Care Exchange: Eligibility vs. Enrollment“. I have gained some clarification on the subject and have shared it with Bruce. I have asked him to comment also. There is a concern as to whether access to the Public Option (PO) was limited. Bruce’s […]
By Spencer, Third quarter nonfarm productivity rose at a 9.5% annual rate as output rose 4.0% and hours worked fell at a 5.0% rate. Historically, productivity has been a very good leading indicator of real GDP growth lagged two quarters. Productivity is also highly cyclical and the first year of a recovery typically experiences the […]
Rdan Steve Waldman at Interfluidity has written an impression of The financial blogger meeting with senior Treasury officials of last Monday. He also provides links to other main posts by those who attended. It is worth a visit.
by Bruce Webb Last evening the CBO Director Blog announced the release of a score of the Boehner amendment: A Preliminary Analysis of a Substitute Amendment to H.R. 3962, the Affordable Health Care for America Act. The results are not impressive: (as always click to enlarge)The amendment is scored at reducing the deficit by $68 […]
Rdan The National Academy of Social Insurance report on options for Social Security is public and now available in pdf form. “The purpose of this report is to help analysts and policymakers consider options to bring Social Security into long-term balance in ways that also address concerns about benefit adequacy.” One cannot simply glance through […]
Common Sense Health Care Reform and Affordability Act Haven’t begun to read it. And somehow it is in a format that doesn’t allow cutting and pasting the text. So I am just throwing this out to the floor for open discussion in comments.