The work of the late economist Hyman Minsky has become increasingly relevant in recent years, as his understanding of the fragility of financial markets and their role in bubbles and busts was both deep and prescient. Other economists generally viewed financial markets as playing not much more than an intermediary function, passively allocating excess savings… Read more
It is a common mistake to overestimate the contribution of immigration to the increase in poverty. Today’s purveyor of this erroneous association is the WaPo’s Robert Samuelson, who writes in the context of a discussion about immigration reform: The influx of unskilled Hispanics has sharply boosted U.S. poverty. From 1990 to 2013, Hispanics accounted for… Read more
Who knows!? It’s lower than conventional estimates, but beyond that…over at the Upshot.