Weekend Activities

February 5th, 2012 at 12:47 pm

Light posting for these reasons:

–Crunching on testimony for a Senate Budget Committee hearing on inequality later this week–will post segments when ready.

–Coaching young kids’ basketball, which is both deeply satisfying and challenging–one is reminded of a great analogy I once heard: “following the hearing, lobbyists swarmed the legislators like 8 year-olds chasing the soccer ball.”   Hard to get them not to chase the soccer or basket ball.

–Saw the musical Hairspray, which was pure fun, and generally appropriate for kids.

–I suppose one must pay some attention to all those expensive advertisements with a football game thrown in there.  As OTE’ers know, I’m a big Madonna fan so that could be interesting.  I like the Giants but expect their recent surge to end here–they’ve been punching above their weight for a while now.

–Forthcoming posts on:

  • the minimum wage: it’s time to start thinking about another national increase, and interestingly, Gov Romney’s got the right idea re indexing it (though not from its current level);
  • illiquidity versus insolvency in the housing market: why those, like Gov Romney, who propose to let the housing market find its own bottom with no policy interventions are wrong–they’re mistaking illiquidity for insolvency.  But we’re still in a liquidity trap and the negative spillovers from Romney’s approach can and should be avoided.
  • Mozart Violin Concerto #3…it’s the bomb!
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5 comments in reply to "Weekend Activities"

  1. D. C. Sessions says:

    the minimum wage: it’s time to start thinking about another national increase, and interestingly, Gov Romney’s got the right idea re indexing it (though not from its current level);

    I like the idea of indexing minimum wage to the per-capita GDP but indexing taxes to the median income. It’d never fly, mind, but it’s fun to imagine.


  2. Th says:

    Do you prefer raising the minimum wage to broadening and increasing the EITC or is it about political feasibility?


    • Jared Bernstein says:

      I think you need both. They’re complements in ways I’ll try to write about soon. Basically, the EITC is a transfer from taxpayers to low-income workers. The incidence of the min wg comes more out of profits I believe. That’s why a) you don’t see much in terms of employment effects (it’s absorbed on the profits, not the jobs margin) and b) employers lobby’s squawk so loudly against it.


  3. Tyler says:

    “… the minimum wage: it’s time to start thinking about another national increase … ”

    Here, here. Here’s a highly stimulative way to raise the minimum wage: http://rodgermmitchell.wordpress.com/2011/08/16/the-one-simple-step-that-instantly-would-stimulate-the-economy-and-reduce-unemployment/


  4. Ben Moodie says:

    I highly recommend Julia Fischer’s recent-ish recording of the Mozart… Arthur Grumiaux also kicks heiny…


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