Archive for the ‘Economic Growth’ Category

A Striking Picture of Pay and Deregulation in Finance

April 12th, 2014

I’m crunching on a longer piece on “rents” versus merit in US high-end salaries and their role in our uniquely high levels of inequality (“rents” here means being paid above your marginal product, or your individual contribution to your firm’s bottom line). Anyway, for good and I think obvious reasons, a strain of this literature… Read more

Summers on Infrastructure Needs

April 11th, 2014

If there’s something awry in the logic of Larry Summers’ argument here for more infrastructure investment, I certainly can’t see it.  Based on low real interest rates, still high unemployment particularly among blue-collar production and construction workers, and most of all, the need for productivity-enhancing investments in our aging public goods, Larry is very much… Read more

Our Expansion is Actually Getting Longish in the Tooth

March 22nd, 2014

As Josh Barro reminded us the other day, most Americans—57%–still think the economy is in recession.  It’s not, as per the official scorekeepers.  The National Bureau of Economic Research Business Cycle Dating Committee (sounds like a lonely heart club for nerds) tells us that the recession officially ended in June 2009.  And at least in… Read more