Many economists, myself included, argue that among our greatest concerns is the slowdown in productivity growth, as the growth of output per hour (that’s how productivity is measured) is a key determinant of living standards (yes, the distribution of productivity growth is another key determinant; in our age of inequality, growth is necessary but not… Read more
I know of two policy channels through which to push back on recessions: monetary and fiscal. As I discuss in today’s WaPo, though who knows when the next downturn hits, we’re not ready. Monetary policy–ie, the Fed’s main tool: its Fed funds rate (ffr)–is very unlikely to have time to reload. I think this is… Read more
It’s summer, which means I hit the road to preach the progressive econ gospel to anyone with a town hall and a PowerPt projector. Anyone recognize where I am tonight? Be there and be square!
As I discuss in today’s WaPo, Brexit was a function of many factors: –PM David Cameron’s reckless, opportunistic political gambit: calling for the referendum back in 2013 to assuage his far right Euro-skeptics in time for the upcoming election. –Strong anti-immigration and anti-globalization sentiments. The unleashed xenophobia, surely linked to the refugee crisis, is to… Read more
Today’s NYT mag has a piece about how the proliferation of mass shootings made the term “active shooter” part of our lexicon. The piece begins by featuring a manufacturer of bullet proof office furniture. For five years, Ballistic Furniture Systems has been developing “bullet-resistant panels that could be fitted inside chairs, cubicles and doors.” There… Read more