A few links to click through to.

July 13th, 2017 at 9:05 am

First, there’s this WaPo piece on an important benefit of full employment: the closure of racial unemployment gaps. The piece links to a new Fed study that’s worth a close look. Nothing OTE’ers wouldn’t know given my emphasis on the disproportionate benefits of tight labor markets to less advantaged groups, but the Fed study provides a nice, deep dive into the issue. It’s important to remember that the survey data on which this work is based excludes the incarcerated, which is an increasingly big omission for minorities, especially blacks, over this period. In a sense, many labor market indicators for blacks are biased up as those with weaker labor force attachment are removed from the sample.

End of the day, though, if you said I could do two and only two things to help black workers, I’d pursue:
–full employment with direct job creation (with a training component)
–criminal justice reform.

If you relaxed the “two” restriction, I’d add the stuff Ben S and I talk about in our latest TAP piece.

Second, I think many OTEers would enjoy this symposium in the journal Democracy, curated and summarized by yours truly. As Dean Baker points out, and I agree, post-real macro is alive and well and doing all sorts of damage to policy, though as Furman and Friedman discuss, there’s room for hope in various corners of the profession. And yes, despite our efforts, it’s yet another a white-male fest, which is certainly part of the problem.

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2 comments in reply to "A few links to click through to."

  1. Smith says:

    After reading “Does the Fed Think Black Lives Matter?” by Jared Bernstein & Ben Spielberg, (the TAP piece, TAP stands for The American Prospect) it will be hard to trust the judgement of this blog in the same way I might have previously. The implication that they favor reparations, and that they would support the “Commission to Study Reparation Proposals for African-Americans Act, which would set up a commission to determine the most appropriate course of action.” I find scary and irresponsible. For some reason the authors also seem to dance around the phrasing of their support. It’s as if they are scarred someone might later quote them. But from way it was composed, they can say, uhmm, we merely pointed out how other groups favor the commission. Then they could also say the commission would decide whether reparations are appropriate. I find this type of presentation objectionable.

    With all due respect, discussion, debate, espousal, and support of reparations would be a disaster for progressive forces. While you’re at it, you should banish the “white-male fest” guilt leaching into your language in the post. If the contributors to the symposium you curated weren’t present due to the content of their character, you shouldn’t have been either. The whole tone comes across as insulting to all people, and somewhat condescending and privileged. I know from whence I speak. Me too, condescending and privileged, but feeling confident enough to speak out against rich liberals backing very ill considered programs that would create a perfect diversion for the right. It would be a disaster. Even Bernie Sanders knew.

    POLITICS 02/13/2016 11:59 am ET | Updated Feb 15, 2016
    Bernie Sanders Struggles To Defend Reparations Stance To Black Voters

    And now nice words, I enjoyed reading your essay in Democracy (and not because I totally agree with it because there are more things wrong with much of macro than you may have considered)
    http://democracyjournal.org/magazine/45/why-did-nobody-notice-it/


  2. Serene says:

    Nothing will change in macro until the die-hard neoliberals are disowned from the profession. I view them as the most dangerous breed on the planet. They’re worse than libertarians to my eye.

    When economists fail to recognize their errors, blunt-force, nitwits win. A blunt-force nitwit is better than a pompous fascist.


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