Tag Archive: Economics

Monday Roundup

For reasons that I hope I’ll explain one day, this week is going to be a bit crazy. So here are a few stories I’ve been sitting on, awaiting longer commentary:

A few weeks ago, Marvel comics unveiled an alternative Spiderwoman cover which was immediately decried as sexist because of her pose. I suspected that this criticism was largely coming from people who weren’t terribly familiar with the medium. And indeed, Maddox easily found a … Read more

Government Doesn’t Fix Inequality Because it Can’t

Vox has one of their usual questions today, asking why our government doesn’t “fix” inequality.

Now before I get into this, I should say that I’m not entirely convinced that inequality is a problem needing fixing. Piketty’s book has been found to have some dubious data and his conclusion — that capital always grows faster than the economy — seems incredibly shaky and simplistic. The contention that inequality is increasing is subject to three assumptions … Read more

The Book No One is Reading

Quick shot before today’s longer post: we have a new champion for the book that everyone buys and no one reads. Three guesses as to what it is and the last two don’t count.… Read more

Obamanomics On the March

The economy contracted almost three percent in the first quarter, the worst quarter since the end of the Great Recession. Maybe it’s a blip, but that is a scary number. I’m sure the Obama defenders will blame it on the cold weather but I’m pretty sure we had cold weather in the past. Eventually, this will be Bush’s fault. Or “austerity”.

This is horrible news, whatever your politics. While I oppose Obama, I want the … Read more

The Latest Triumph of Obamanomics

You remember the “Summer of Recovery”? That was back in 2010 when the combination of fiscal stimulus and Obama frisson was supposed to get the economy moving again. Since then, we’ve been waiting and waiting for a full recovery, bumbling along at 2% growth with job creation barely keeping up with population. But I’m sure an economic boom is just around …

Oh:

The Commerce Department said on Thursday that the nation’s overall output

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The “Do Nothing” Congress Cuts Both Ways

We’ve been hearing for the last couple of years that the Republican congress won’t do anything (with “do anything” defined as “unilaterally cave in to the President’s entire agenda”). But doing nothing cuts both ways. It’s not like the Democrats are proposing a raft of great laws that would save our country. And in many cases, they are opposing them for stupid reasons:

A high-profile Senate bill that would dismantle Fannie Mae and Freddie Mac

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At Least He’s Honest About It

Building on Alex’s post on income inequality, I note that Mathew Yglesias published this over at Vox. Yglesis advocates for raising the top marginal rate on salaries above $10 million to 90% and the inheritance tax of estates over $10 million to 90%. His argument is that the Laffer Curve is largely bunk and there is no evidence that raising incomes that high would seriously hurt the economy, at least if it were confined to … Read more

The CBO Thorn in Obama’s Side

Fresh off their recent report on Obamacare that predicted a decline in the workforce of 2.5 million (partially as a result of employer cutbacks, mostly as a result of people leaving jobs due to high effective marginal rates), the CBO today issued a report on the effect of raising the minimum wage.

Raising the U.S. minimum wage would lead to the loss of about half a million jobs by late 2016 but lift almost a

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The State of Inequality

Rumors are that the President’s taxpayer-funded political speech State of the Union Address will focus on rising income and wealth inequality in the United States. As with almost everything this Administration does, I think this is misguided.

First, at least part of the problem of inequality is social. Poor people are much more likely to get divorced, much more likely to have children out of wedlock, much more likely to drop out of high school, … Read more

Geithner vs. S&P

Hmmm:

Former U.S. Treasury Secretary Timothy Geithner angrily warned the chairman of Standard & Poor’s parent that the rating agency would be held accountable for its 2011 decision to strip the United States of its coveted “triple-A” rating, a new court filing shows.

Harold McGraw, the chairman of McGraw-Hill Financial Inc , made the statement in a declaration filed by S&P on Monday, as it defends against the government’s $5 billion fraud lawsuit over

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