Just back from a segment on MSNBC’s Rev Al show wherein we worried about the impact of Congressional screwing around with the Highway Trust Fund on the job market. I wrote about this concern on the day of the last jobs report, which you’ll recall was a pretty strong report, under the heading “Congress, PLEASE… Read more
Dean Baker goes on a vicious—even for him!—tear in response to Robert Samuelson’s column this morning on the state of economics knowledge about the business cycle. Dean’s take down is definitely worth a read, as I too have been struck by the increasingly complex explanations offered for a sequence of economic events that seems fairly… Read more
A: Other institutions, public and private, step in–and while that has pluses and minuses, at the end of the day, it’s inefficient and unsustainable. Over at PostEverything.
All happy macro-economies are alike; all unhappy macro-economies are unhappy in their own way. This post, based on some important new work by Johns Hopkins Professor Larry Ball, will present a typology of those unhappy economies in a moment, but first, let’s talk about “hysteresis,” a problem that sounds as bad as it is. It’s… Read more
There’s a very interesting, albeit down-in-the-weeds, analytic debate brewing around a confluence of recent publications. Tim Geithner’s new book defends the interventions of the Treasury Department he led to reflate credit markets (and I worked with the team on this back then). Mian and Sufi’s new book, reviewed here by Bin Appelbaum, argues that Treasury… Read more