Readers know I’ve long been noodling over measurement issues, whether it’s accurately measuring the economy’s capacity–and admitting we don’t have reliable, policy relevant gauges of potential GDP or a “natural rate” of unemployment–or maybe most importantly, measuring well-being versus growth. See this in today’s WaPo. Like David Pilling, whose book The Growth Delusion I highly… Read more
I haven’t posted one of these for awhile, but I stumbled on this gem on YouTube the other day and had to share it. It’s the grown-up child prodigy Steve Winwood just sitting there, letting loose with some pure music. I recall the song from my younger days from the rock-star-studded band Blind Faith. These… Read more
I’ve long hoped, probably naïvely, that one of the benefits of team Trump’s promotion of generally ineffective (or worse) solutions to the downsides of trade could engender a debate about better ideas. Of course, the debate will also generate some really bad arguments, like this one from economist Donald Boudreaux in this AM’s NYT. Boudreaux… Read more
Financial markers are on shpilkes. Stocks, after crushing it Monday, with the Dow up almost 3%, gave back about half those gains the next day, dragged down by a tech sector spooked by potentially forthcoming regulation around data privacy. Readers know I don’t try to explain daily ups and downs in equity markets. My mantra remains:… Read more
Is that the message from the latest dust-up with Canada on our trade flows with them? Read this WaPo take and find out!