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

Sucking it out faster than you make it, Income distribution and gdp 2008

« Back I am reposting this at Dan’s suggestion as it relates to the recent post by Steve Roth.  I have edited it slightly along with a retitle to clean up some wording and hopefully have made it easier to read.  For those new here, my posts started with income inequality and a thought that […]

Nick and Joe are doing their best to beat back Milton Friedman et al

Nick Hanauer, Joseph Sitglitz videos. This is the latest presentation Nick Hanauer has made regarding the upside downness of our economy and the backward, selfish thinking that has gotten us here. In this one he is talking to his “plutocrat” friends: We plutocrats need to see that the United States of America made us not […]

Sore-Losing Doesn’t Bode Well for Well-Considered Policy Choices on Taxes…

by Linda Beale Sore-Losing Doesn’t Bode Well for Well-Considered Policy Choices on Taxes… Romney and Ryan have apparently joined the GOP sore-losers ranks most ably demonstrated by John McCain’s bitter post-presidential candidate spin.  Romney betrayed the GOP’s disregard for ordinary Americans in a post-election talk with some of his major donors. Like his “47% comment” […]

The (Truly Dangerous) Bull In a China Shop: The American Value of Supporting Gratuitous Insults of Other Countries’ Majority Religions

After expressing sorrow about the deaths, Mr. Romney told reporters on the campaign trail that the Obama administration had tried to appease Islamic extremists who should have been condemned instead. He said a statement issued by the American Embassy in Cairo before the deaths criticizing an anti-Islamic video was “akin to an apology” and a […]

Which (macro)-economists are worth listening to?

One could add a few names, and people did in comments.  One could also add a couple more thoughts  to Jonathon’s criterion, two of which could be admitting to mistakes and fixing parts of the model one is using if missed called, and a caveat around whether an economist could explain his/her model well and […]

Bull In a China Shop

Romney said a Polish leader told him during his visit that his country’s economic philosophy is, “You don’t borrow what you can’t pay back.” The presumptive Republican presidential nominee used the line to draw an implicit contrast with President Obama, saying the world — and, by definition, the United States — should emulate Poland’s economic […]

It’s not how rich we are, it’s how equal we are.

This is a 16 minute * lecture by Richard Wilkinson. It is posted at TED. I am posting it here, as I can not believe this information has not received more attention now that the US is awakening from the decades long delusion of prosperity which did not and as shown in the lecture could […]

PSA: Mark Thoma, Schlesinger and Jack Otter Answer Questions about the Economy at 2:00pm today (EDT)

From my email (with formatting lost): Ask the Experts: What’s Next for the Economy? It’s a big week for the American economy. President Obama announced his plans to reduce the deficit on Monday, and Wednesday afternoon the Federal Reserve announces its new plan to boost growth. Do these proposals make sense? And what do they […]

Go ahead. Implement Austerity at your own peril

by Daniel Becker (This is a long post. The time for sound bite debate to the demise of learned discussion is over for we are flirting with danger.) Via a post at Financial Armageddon I learnt of a paper looking at the relationship of austerity implementation and social unrest. It is recent, dated August 2011. […]