Here’s an engaging oped by Jon Grinspan that makes one of my favorite points, one which is obvious but under-appreciated, I think: generalized and pervasive negativity about government perpetuates broken government. As Grinspan (a name that sounds like the answer to the crossword puzzle clue: “happy central banker”) puts it: First, we need to realize… Read more
Like others, I’ve wondered why bond yields have remained so low in recent months. Yes, of course the Fed is in the game big time but what with the taper, the on-going recovery, and forward leaning expectations, I’ve been expecting yields to climb. And so they have, with the yield on the 10 year up almost… Read more
You’ve hopefully heard about, if not read, this revealing analysis by William Lazonick on the sharp rise in public corporations using their profits to boost their share price through stock buybacks as opposed to re-investment. I won’t summarize the findings, as Harold Meyerson amply does so here. As he writes: From the end of World… Read more
Co-authored with Harry Holzer, over at PostEverything. The ideas here links to the concept of reverse hysteresis, the notion that tight job markets, and, in this piece, smart sectoral and earn-while-you-learn policies, can help bring some who’ve left the labor market back in.
In a WaPo oped today, Larry Summers takes a pretty gloomy view of the growth prospects of the US economy, and he throws Europe and Japan in there too for good measure. Larry’s always worth listening to on such matters, so let’s take a brief, closer look. Larry’s been righteously worrying about the economy’s demand… Read more