A Tale of Two Countries
The great thing about Accounting Identities is that they must be true. The bad thing about Accounting Identities is that their truth is often trivial. Tim Duy notes the reality: We can’t all be net...
View ArticleEconomists = Idiots? Part 1829
It was their idea, so it’s no surprise they like paying interest on reserves, even excess reserves: For quite a while, the Fed was quite happy to have that money on its books. Indeed, the power to pay...
View ArticleObamaCare IS Working – That’s WHY It’s a Problem
There’s a reason for this. After the (wholly justified, understated) bitterness of my last post, a moment of cheer: An old friend of mine is in the process of losing his job. Now, normally I wouldn’t...
View ArticleSpot Effing On, as The Mainstreamers Edge Leftward
We have just printed the eleventh (11th) straight week in which new jobless claims have exceeded 400,000 people. As Krugman notes, “The Fed predicts disastrously high unemployment as far as the eye can...
View ArticleEITC: Mulligan (economic theory) vs. Seto (empirical evidence)
by Linda BealeEITC: Mulligan (economic theory) vs. Seto (empirical evidence) TaxProf today noted the article in the New York Times about the EITC: Casey Mulligan, Do Tax Credits Encourage Work? New...
View ArticleWhich (macro)-economists are worth listening to?
One could add a few names, and people did in comments. One could also add a couple more thoughts to Jonathon’s criterion, two of which could be admitting to mistakes and fixing parts of the model one...
View ArticleNotes Toward Economics at (or, more accurately, approaching) the Eschaton
No, not Dr. Black’s blog. The real eschaton: the end of everything. Or, in this case, its economics equivalent: the point at which almost all human work is no longer necessary but human beings still...
View ArticleGary Becker Has Died
Digging into her archives, a better economist and writer than I examines his work. Digging into our archives, AB alumnus and working economist Tom Bozzo did some heavy lifting on his political successes.
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