This finding, while not surprising, is hard for me to square with the Political Economy we live in: On the Distribution of the Welfare Losses of Large Recessions by Dirk Krueger, Kurt Mitman, Fabrizio Perri – NBER WP#22458 How big are the welfare losses from severe economic downturns, such as the U.S. Great Recession? How […]
Category Archive for 'Politics'
A very good and underappreciated site is Put a Number on It. Here, from a recent post on inequality, is not something many are familiar with: Transfers comprise social security and the rest of welfare. I gave $5,700 to every person over 65 and spread the rest based on number of children and distance from […]
If someone had told two years ago that one party was going to run a ticket with two ex-governors who were regarded as competent and scandal-free while another party was going to run Trump, which would you have guessed would be the mainstream party and which would you have guessed would be the wacko third […]
Hillary in a landslide. Republican House Democratic Senate.
So, New York State (who is that, exactly?) passes an historic increase in the minimum wage. It argues, implicitly, that raising costs to $15 per hour will benefit workers and not have the adverse consequences economists warn about. Of course, there are myriad adverse consequences, not just unemployment, so keep your eye on the ball. […]
Of course, I will not share my thoughts at Thanksgiving … but here goes (start at 1:14 if you don’t like stories. One reason I love folk music is the stories): Please do NOT interpret this to suggest that I think this is an open and shut issue, or that there are not legitimate questions […]
Sounds like a radical-contractarian to me! “With ______ , a business owner and the employees negotiate an agreement that works for them both. The agreement allows each party to prioritize what is important to them,” Hicks said in a statement. “This provision gives the parties the option, the freedom, to negotiate that agreement. And that is […]
I’ll withhold emotional commentary for now since it is not going to be charitable. The wonderful Coyote shares this with us, and I think my former student Nick F.’s insights on the race wars apply here too: The brief time I led the Equal Marriage Arizona efforts to amend the Constitution to allow gay marriage […]
You will see in Wednesday’s post that the best argument GM can give for why they get so much in subsidies to produce a Volt is because, “the damn Koreans and Japanese do it more than we do.” Aside from the economics of that, pause for a moment to reflect on how we run our […]
Tim Taylor summarizes the data from the Center for Responsive Politics: Total spending for the 2014 Congressional races looks like it will come in at about $4 billion, quite similar to the amount spent in 2012 and 2010. In the context of a high-income country with a population of nearly 320 million, this is not […]