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OpEd News Member for 921 week(s) and 2 day(s)
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Wednesday, December 28, 2016
Trump and Growth whether or not innovation puts downward pressure on the wages of workers or leads to broadly shared prosperity, as it did in the period from 1947 to 1973, depends on the institutional structure in place. In the last four decades the structure has been designed to redistribute upward.
Wednesday, December 28, 2016Trump and Growth whether or not innovation puts downward pressure on the wages of workers or leads to broadly shared prosperity, as it did in the period from 1947 to 1973, depends on the institutional structure in place. In the last four decades the structure has been designed to redistribute upward.
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Tuesday, December 27, 2016
Donald Trump and his Cabinet Will Trade on Inside Information as President Has Trump given us any reason to believe that he will resist the temptation to profit from his position as president? The fact that he can't keep himself from tweeting bizarre and absurd claims at all hours of the night does not give confidence in his self-restraint. being president involves some sacrifices. If he didn't understand this fact, he shouldn't take the job.
Tuesday, December 27, 2016Donald Trump and his Cabinet Will Trade on Inside Information as President Has Trump given us any reason to believe that he will resist the temptation to profit from his position as president? The fact that he can't keep himself from tweeting bizarre and absurd claims at all hours of the night does not give confidence in his self-restraint. being president involves some sacrifices. If he didn't understand this fact, he shouldn't take the job.
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Thursday, December 22, 2016
Financing Infrastructure: Trump's Plan Seems Like a Joke Because Trump's plan relies on a tax credit, only projects that generate revenue would fit the bill. That's fine for toll roads and bridges, but this won't repair our water systems and schools or even pay for repairing existing roads and bridges that are publicly owned. And items like early childhood education would clearly not be on the agenda.
Thursday, December 22, 2016Financing Infrastructure: Trump's Plan Seems Like a Joke Because Trump's plan relies on a tax credit, only projects that generate revenue would fit the bill. That's fine for toll roads and bridges, but this won't repair our water systems and schools or even pay for repairing existing roads and bridges that are publicly owned. And items like early childhood education would clearly not be on the agenda.
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Monday, December 5, 2016
How to Gain Support for Trade: Stop Rigging It to Redistribute Upward The point of making it as easy as possible to move a factory to Mexico, and then import the output back to the United States, is to get access to low cost labor. The predicted and actual effect of this policy is to reduce the number of jobs available to manufacturing workers in the United States.
Monday, December 5, 2016How to Gain Support for Trade: Stop Rigging It to Redistribute Upward The point of making it as easy as possible to move a factory to Mexico, and then import the output back to the United States, is to get access to low cost labor. The predicted and actual effect of this policy is to reduce the number of jobs available to manufacturing workers in the United States.
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Friday, December 2, 2016
Cash and Carrier: Trump and Pence Put on a Show While Trump and Pence may have saved the jobs of 1,000 workers (apparently 400 jobs are still going to Mexico), it is not clear what the price to the state of Indiana or the US government is. It appears that vice president-elect and Indiana Gov. Mike Pence may have made some concessions, and perhaps Trump made promises as well.
Friday, December 2, 2016Cash and Carrier: Trump and Pence Put on a Show While Trump and Pence may have saved the jobs of 1,000 workers (apparently 400 jobs are still going to Mexico), it is not clear what the price to the state of Indiana or the US government is. It appears that vice president-elect and Indiana Gov. Mike Pence may have made some concessions, and perhaps Trump made promises as well.
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Wednesday, November 30, 2016
The huge costs of Trump energy plans The story of the North Dakota oil and gas industry captures the absurdity of President-elect Trump's plans to remove environmental restrictions on fossil-fuel production. Apparently, he wants us to believe a boom in production would lead to massive job growth and plunging energy prices and no negative consequences. But the story of an energy boom just around the corner is an illusion.
Wednesday, November 30, 2016The huge costs of Trump energy plans The story of the North Dakota oil and gas industry captures the absurdity of President-elect Trump's plans to remove environmental restrictions on fossil-fuel production. Apparently, he wants us to believe a boom in production would lead to massive job growth and plunging energy prices and no negative consequences. But the story of an energy boom just around the corner is an illusion.
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Tuesday, November 22, 2016
Why Don't We Have Free Trade for Highly Paid Professionals in the US? We can have free trade in the highly paid professions. The potential benefits for the economy would be enormous. And unlike much of the gains from the current pattern of trade, these benefits would be broadly shared. We just have to overcome the protectionist inclinations of our politicians and trade negotiators.
Tuesday, November 22, 2016Why Don't We Have Free Trade for Highly Paid Professionals in the US? We can have free trade in the highly paid professions. The potential benefits for the economy would be enormous. And unlike much of the gains from the current pattern of trade, these benefits would be broadly shared. We just have to overcome the protectionist inclinations of our politicians and trade negotiators.
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Thursday, November 17, 2016
Trumponomics: It's Not All Crazy We may once again see issues with inflation and a need for higher interest rates to slow the economy. That will have some negative effects, but at least it will put an end to the long period of high unemployment and secular stagnation. This will be a good thing; it's just unfortunate that we needed a Trump administration to get there.
Thursday, November 17, 2016Trumponomics: It's Not All Crazy We may once again see issues with inflation and a need for higher interest rates to slow the economy. That will have some negative effects, but at least it will put an end to the long period of high unemployment and secular stagnation. This will be a good thing; it's just unfortunate that we needed a Trump administration to get there.
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Thursday, November 17, 2016
If You Thought a Trump Presidency Was Bad ... The Washington Post editorial page decided to lecture readers on the meaning of progressivism. For framing, the villains are Bernie Sanders and Elizabeth Warren who it tells us "are embracing principles that are not genuinely progressive."
Thursday, November 17, 2016If You Thought a Trump Presidency Was Bad ... The Washington Post editorial page decided to lecture readers on the meaning of progressivism. For framing, the villains are Bernie Sanders and Elizabeth Warren who it tells us "are embracing principles that are not genuinely progressive."
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Sunday, October 30, 2016
How Intellectual Property Rules Help the Rich and Hurt the Poor While the future may actually be one of continually rising inequality, it is important to realize that technology is not the culprit. It is not the technology that determines who gets the benefits of major innovations; it is laws that govern technology, which in turn are made by politicians.
Sunday, October 30, 2016How Intellectual Property Rules Help the Rich and Hurt the Poor While the future may actually be one of continually rising inequality, it is important to realize that technology is not the culprit. It is not the technology that determines who gets the benefits of major innovations; it is laws that govern technology, which in turn are made by politicians.
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Tuesday, October 18, 2016
The Old Debt And Entitlement Charade The use of the term "entitlements." While this has a clear meaning to policy wonks, it is likely that most viewers won't immediately know that "entitlements" means the Social Security and Medicare their parents receive. It's a lot easier for politicians to talk about cutting wasteful "entitlements" than taking away seniors' Social Security and Medicare.
Tuesday, October 18, 2016The Old Debt And Entitlement Charade The use of the term "entitlements." While this has a clear meaning to policy wonks, it is likely that most viewers won't immediately know that "entitlements" means the Social Security and Medicare their parents receive. It's a lot easier for politicians to talk about cutting wasteful "entitlements" than taking away seniors' Social Security and Medicare.
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Saturday, October 15, 2016
A Little Pre-Election BS From the White House on Income Inequality The wealthiest 1 percent often have considerable control over the timing of their income. They knew the top tax rate would rise from 35.0 percent for 2012 to 39.6 percent in 2013. This gave them a very strong incentive to declare income in 2012 that would have otherwise appeared in 2013. This makes 2012 look really good for the 1 percent and 2013 much worse.
Saturday, October 15, 2016A Little Pre-Election BS From the White House on Income Inequality The wealthiest 1 percent often have considerable control over the timing of their income. They knew the top tax rate would rise from 35.0 percent for 2012 to 39.6 percent in 2013. This gave them a very strong incentive to declare income in 2012 that would have otherwise appeared in 2013. This makes 2012 look really good for the 1 percent and 2013 much worse.
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Tuesday, October 11, 2016
Trump and Trade: He's Not All Wrong the trade deficit is a major source of job loss. Our current trade deficit of $500 billion a year (@ 2.8 percent of GDP) is a major drag on demand and employment. For this reason, a politician would be absolutely right to cite trade as a big factor in the weakness of the labor market.
Tuesday, October 11, 2016Trump and Trade: He's Not All Wrong the trade deficit is a major source of job loss. Our current trade deficit of $500 billion a year (@ 2.8 percent of GDP) is a major drag on demand and employment. For this reason, a politician would be absolutely right to cite trade as a big factor in the weakness of the labor market.
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Tuesday, October 4, 2016
Secrets in Plain View: Obamacare Is Working We have to reduce the amount that people pay out of pocket, end charges for many kinds of preventative screening and introduce a Medicare-style public option in the health care exchanges. But these and other steps can only take place if politicians who support the ACA feel comfortable talking about it. That will only be the case when people recognize the benefits it has brought.
Tuesday, October 4, 2016Secrets in Plain View: Obamacare Is Working We have to reduce the amount that people pay out of pocket, end charges for many kinds of preventative screening and introduce a Medicare-style public option in the health care exchanges. But these and other steps can only take place if politicians who support the ACA feel comfortable talking about it. That will only be the case when people recognize the benefits it has brought.
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Monday, September 26, 2016
The Anniversary of Lehman and Men Who Don't Work Our leading economists had no clue about what was going on when Lehmen collasped, and they still don't seem to have a clue today. According to the Congressional Budget Office, potential GDP is now 10 percent less ($1.9 trillion) than the amount projected for 2016 before the downturn. This is a recurring loss of GDP that amounts to almost $6,000 a year for every person in the country.
Monday, September 26, 2016The Anniversary of Lehman and Men Who Don't Work Our leading economists had no clue about what was going on when Lehmen collasped, and they still don't seem to have a clue today. According to the Congressional Budget Office, potential GDP is now 10 percent less ($1.9 trillion) than the amount projected for 2016 before the downturn. This is a recurring loss of GDP that amounts to almost $6,000 a year for every person in the country.
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Tuesday, September 6, 2016
Labor Day 2016: Moderate Progress in Last Year On the plus side, real wages are growing again. The average real hourly wage for non-supervisory workers rose by more than 2 percent during the last year. This is the second consecutive increase of this size, following seven years of virtual stagnation in wages for most workers.
Tuesday, September 6, 2016Labor Day 2016: Moderate Progress in Last Year On the plus side, real wages are growing again. The average real hourly wage for non-supervisory workers rose by more than 2 percent during the last year. This is the second consecutive increase of this size, following seven years of virtual stagnation in wages for most workers.
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Saturday, September 3, 2016
Job Growth Slows In August This downward trend could indicate slower hiring in the future. It also seems to contradict the common assertion in the business press that employers are having difficulty finding qualified workers. If this were true, they would be pushing the workers they have to work longer hours. Wage growth also shows no evidence of accelerating. The average hourly wage increased by 2.4 percent over the last year.
Saturday, September 3, 2016Job Growth Slows In August This downward trend could indicate slower hiring in the future. It also seems to contradict the common assertion in the business press that employers are having difficulty finding qualified workers. If this were true, they would be pushing the workers they have to work longer hours. Wage growth also shows no evidence of accelerating. The average hourly wage increased by 2.4 percent over the last year.
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Wednesday, August 17, 2016
Trade, Truth, and Trump If respectable leaders in politics and the media continue to repeat glib cliches, rather than taking the economic reality of trade policy seriously, it should not be surprising that the victims of trade will look to demagogues like Trump. It is unfortunate when we get a more honest discussion of a major policy issue from Donald Trump than the New York Times.
Wednesday, August 17, 2016Trade, Truth, and Trump If respectable leaders in politics and the media continue to repeat glib cliches, rather than taking the economic reality of trade policy seriously, it should not be surprising that the victims of trade will look to demagogues like Trump. It is unfortunate when we get a more honest discussion of a major policy issue from Donald Trump than the New York Times.
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Thursday, August 11, 2016
Trump's Economic Agenda: Mostly, More of the Same The Trump agenda looks like the Republican agenda that we have seen many times before: It centers on large tax cuts for the wealthy and corporations, something that has not worked in the past to create either strong growth or rising living standards for working people. Trump does offer a different perspective on trade, but it is too contradictory to be able to determine if it will actually benefit ordinary workers.
Thursday, August 11, 2016Trump's Economic Agenda: Mostly, More of the Same The Trump agenda looks like the Republican agenda that we have seen many times before: It centers on large tax cuts for the wealthy and corporations, something that has not worked in the past to create either strong growth or rising living standards for working people. Trump does offer a different perspective on trade, but it is too contradictory to be able to determine if it will actually benefit ordinary workers.
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Wednesday, August 3, 2016
Clinton, Trump, and Budget-Busting Tax Cuts The idea of spending more and running larger budget deficits is a good one. Trump may take it too far and want to give all the money to rich people, but he is not wrong for wanting to increase the budget deficit to boost the economy. This is a position that progressives should embrace and ideally force the Democratic presidential candidate to embrace.
Wednesday, August 3, 2016Clinton, Trump, and Budget-Busting Tax Cuts The idea of spending more and running larger budget deficits is a good one. Trump may take it too far and want to give all the money to rich people, but he is not wrong for wanting to increase the budget deficit to boost the economy. This is a position that progressives should embrace and ideally force the Democratic presidential candidate to embrace.
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