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

In Which I Say Something Nice about Lawrence Summers

Ken Houghton Via Brad DeLong, we find Sheryl Sandberg trying to rehabilitate Lawrence Summers’s professional reputation with respect to women. She opens with: Larry has been a true advocate for women throughout his career. In 1992, as Chief Economist of the World Bank, Larry argued in front of the world’s Finance Ministers that the highest […]

Four years is too long, Brad

Ms. mochi-tsuki discovers that the Washington Post has no copyeditors and cannot do math. If this were another blog, I would be typing “Why, oh why, can’t we have a better press corps” here. Instead, let’s just leave it at: if you can’t extract data from the census correctly, what are you doing publishing a […]

The NBER ‘Family Members’ who are part of the McCain ‘100’

Because Hilzoy asked, and I agree with Brad DeLong that it’s not an unreasonable question. No guarantee the 11 are on this list, of course. This is a simple cross-reference of “The McCain ‘100’” and “NBER Family Members.” There are 14 Faculty Research Fellows, 13 Research Associates, and 2 OLs on this list.* *I can’t […]

If not now, when? If now, why? Or, to quote the wrong holiday, Ma nishta…?

I posted this in comments at Lance’s place, but figure to run it up the flag here as well. Speaking as one who supported Monday’s bill and generally opposes today’s, here’s the high-level list of reasons: It wasn’t going to authorize the whole $700B, but about$250B, with renewal (or scrapping) to follow. (That Henry Paulson […]

If asked, I will serve

I have a cold, or perhaps a touch of the flu, so posting will be light for the next few days. Especially if this is true, which somewhat means the election is over and I can go back to looking at data and hoping the House fails to pass the Christmas Card list bill. But […]

What is an Asset?

I like Brad DeLong, conceptually. Even his errors in judgment are based on rational principles. And he has a really useful piece up right now about “dealing with financial crises.” (One of the nice things about it is that it also completely undermines his earlier suggestion that the Fed was wrong not to ease on […]

A Brilliant Comment that Deserves a Larger Audience

In the grand tradition of “pulled from comments,” I’m pulling this one—from Brad DeLong’s blog, in response to this post: …Manzi does not seem to have a consistent view of the concavity of instantaneous indirect utility functions. He argues that it would be absurd to consume the proceeds of the IPO of a successful startup […]