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Reading this editorial in today’s Baltimore Sun makes me realize that the world is full of people who believe in square circles, mighty hurricanes whose strongest winds are but gentle breezes, and (of course) cats that bark. I sent this letter in response:
You are right to decry the ...
Other
If you tried but couldn’t get to my piece on financial reform at the Economists’ Voice, you can get it here .
Other
Financial Crisis
He doesn’t like it . (HT: Paul Solman ) I share Robb’s skepticism about drawing conclusions from empirical work that either ignores other factors or purports to control for them in the name of creating a “natural experiment.” Having been in the kitchen, I know how this ...
Other
I here plead guilty to possibly interpreting Paul Krugman unfairly. I’ve long read a passage in this 2002 New York Times Magazine essay by Krugman as being an example of the common but false belief in zero-sum economics — the belief that, Joe can get richer only by making Bob ...
Government
Paul R. Krugman
In yesterday’s Washington Post , the great George Will has an excellent column — with this outstanding concluding line:
Today, there is a name for the political doctrine that rejoices in scarcity of everything except government. The name is environmentalism.
Other
Simon Johnson
Here’s a letter that I sent few days ago to the New York Times :
Paul Krugman asserts that Beijing increases global unemployment by “siphoning much-needed demand away from the rest of the world into the pockets of artificially competitive Chinese exporters” (” World ...
Government
Paul R. Krugman
US Trade Deficit
Stimulus Plan
I think Paul Krugman needs to get out and about a little more often. In his recent column he writes about Obama’s worries about the growing national debt:
But in a recent interview with Fox News, the president sounded diffident and nervous about his economic policy. He spoke vaguely ...
Government
Here’s a letter that I sent yesterday to the Washington Post :
Your front-page story on talented, credentialed, and underemployed Melissa Meyer should dispel the notion that today’s economic troubles are comparable to those of the Great Depression (” In recession, one road ...
Commodities
Depression
Unemployment
On the Oppenheimer Society listserve, someone asked for recommendations of good books and articles on globalization. David Boaz offered this superb list:
• Free Trade Under Fire (2nd ed.) by Douglas Irwin (Princeton, NJ: Princeton University Press, 2005)
An empirical verification of the ...
Stocks
World Bank
Cato
Here’s a letter that I sent today to the New York Times :
Paul Krugman insists that the nearly ten trillion dollars of projected U.S. government budget deficits over the next decade is a “phantom menace” (” The Phantom Menace ,” Nov. 23). The real problem, ...
Commodities
Depression
Paul R. Krugman
Gross Domestic Product
Stimulus Plan
Here’s a letter that I sent yesterday to the New York Times :
Bob Herbert insists that manufacturing in the U.S. is a mere shadow of its past proud self – and that this alleged decline of America’s “industrial base” is the result of too many Americans ...
Other
Financial Crisis
Gross Domestic Product
Conservative Boston Globe columnist Jeff Jacoby champions the cause of “illegal” immigrants . I applaud him.
Other
The Cato Institute’s Dan “Bulldog” Mitchell discusses — in this short video — the fiscal train wreck called “health-care reform. “
Other
Here’s a letter that I sent to the Wall Street Journal :
Peter Navarro asserts that “China mops up vast sums of export dollars through sterilization efforts that are tantamount to forced saving. In the process, Chinese consumers lose significant purchasing power because of the ...
Other
Here .
The narrative is more important than the facts. People like the narrative because it pleases them. Not because it’s true. Truth is elusive.
But evidence and facts do matter.
So when someone says the TARP was central to preventing disaster, don’t disagree. Don’t ...
Government
TARP
Treasury Bills
I know. This (HT: Drudge ) is how “the system” works. I’m supposed to understand it. But I don’t. It’s a lousy system.
On page 432 of the Reid bill, there is a section increasing federal Medicaid subsidies for “certain states recovering from a major disaster.”
...
Government
Democrat
In the current New Yorker , James Surowiecki is properly critical of the economic distortions introduced by taxing debt-financed income much more lightly than taxing equity-financed income .
But his policy conclusion is a non sequitur :
Given the weak state of the economy and of housing ...
Other
Here’s a letter that I sent this morning to the Washington Post :
Harold Meyerson is confused about U.S. trade with China (” A marriage made in China ,” Nov. 18).
As incontrovertible evidence that American exporters and producers are harmed by U.S.-China trade, he points ...
