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Saturday, July 7, 2018
Does the U.S. Have a Lot of Leverage with China? Mr. Arithmetic is Skeptical China's trade surplus fell by 4.4 percentage points of GDP from 2008 to 2009, yet its economy still grew by more than 9.0 percent that year and by more than 10.0 percent the next year. While all of China's annual data should be viewed with some skepticism, few doubt the basic story. China managed to get through the recession without a major hit to its growth.
Saturday, July 7, 2018Does the U.S. Have a Lot of Leverage with China? Mr. Arithmetic is Skeptical China's trade surplus fell by 4.4 percentage points of GDP from 2008 to 2009, yet its economy still grew by more than 9.0 percent that year and by more than 10.0 percent the next year. While all of China's annual data should be viewed with some skepticism, few doubt the basic story. China managed to get through the recession without a major hit to its growth.
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Tuesday, August 23, 2011
Why Is President Obama So Anxious to Cut Social Security? Most people would be surprised to know that 5 percent of the wage growth projected over the next three decades would be sufficient to keep Social Security solvent. After all, there is a well-funded and well-connected industry of people spreading disaster stories about Social Security and its massive deficit.
Tuesday, August 23, 2011Why Is President Obama So Anxious to Cut Social Security? Most people would be surprised to know that 5 percent of the wage growth projected over the next three decades would be sufficient to keep Social Security solvent. After all, there is a well-funded and well-connected industry of people spreading disaster stories about Social Security and its massive deficit.
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Friday, October 11, 2013
The Ravings of Niall Ferguson, the Real World and the Needless Suffering of Tens of Millions Krugman and my fellow like-minded bloggers can speak for themselves, but I am not going apologize if I am occasionally rude to an ill-informed overpaid Harvard professor making absurd pronouncements on economics that have the effect of obstructing policy aimed at ending unnecessary suffering.
Friday, October 11, 2013The Ravings of Niall Ferguson, the Real World and the Needless Suffering of Tens of Millions Krugman and my fellow like-minded bloggers can speak for themselves, but I am not going apologize if I am occasionally rude to an ill-informed overpaid Harvard professor making absurd pronouncements on economics that have the effect of obstructing policy aimed at ending unnecessary suffering.
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Monday, July 17, 2017
ObamaCare is Only "Exploding" in the Red States Where Republican governors have sought to sabotage the program, they have largely succeeded. Where Democratic governors have tried to make the ACA work, they too have largely succeeded. Republicans have been so successful in keeping many of their residents from getting insurance, they think the country should trust them to overhaul the ACA.
Monday, July 17, 2017ObamaCare is Only "Exploding" in the Red States Where Republican governors have sought to sabotage the program, they have largely succeeded. Where Democratic governors have tried to make the ACA work, they too have largely succeeded. Republicans have been so successful in keeping many of their residents from getting insurance, they think the country should trust them to overhaul the ACA.
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Monday, March 16, 2015
Scott Walker Ends Freedom of Contract in Wisconsin Proponents of "right to work" are fine with almost any demand that an employer wants to make on workers, including pay cuts. Their answer is if you don't like it, work somewhere else. The idea of a union contract is that workers collectively are reaching an agreement with their employer that imposes a set of rules for the workplace.
Monday, March 16, 2015Scott Walker Ends Freedom of Contract in Wisconsin Proponents of "right to work" are fine with almost any demand that an employer wants to make on workers, including pay cuts. Their answer is if you don't like it, work somewhere else. The idea of a union contract is that workers collectively are reaching an agreement with their employer that imposes a set of rules for the workplace.
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Tuesday, August 19, 2014
How Should Social Security Benefits Respond to an Economic Collapse? Workers care about their after-tax wages which are primarily determined by what they earn before taxes. Due to economic mismanagement and trade and regulatory policies that were designed to redistribute income upward, most workers have seen very little growth in before-tax wages over the last three decades.
Tuesday, August 19, 2014How Should Social Security Benefits Respond to an Economic Collapse? Workers care about their after-tax wages which are primarily determined by what they earn before taxes. Due to economic mismanagement and trade and regulatory policies that were designed to redistribute income upward, most workers have seen very little growth in before-tax wages over the last three decades.
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Monday, October 28, 2019
Senator Warren's Answer on Taxes and Medicare for All is Exactly Right The reporters are determined to make this a "she will raise your taxes story." This is an absurd narrowing of the issue. There is no reason that Warren should cooperate with their silly game. She is determined to talk about the substance of the issue, whether or not the reporters want to hear it.
Monday, October 28, 2019Senator Warren's Answer on Taxes and Medicare for All is Exactly Right The reporters are determined to make this a "she will raise your taxes story." This is an absurd narrowing of the issue. There is no reason that Warren should cooperate with their silly game. She is determined to talk about the substance of the issue, whether or not the reporters want to hear it.
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Saturday, February 17, 2018
The Washington Post's Long-Running Attack on Unions The immediate issue before the court is whether the government can sign a contract with a union that requires that everyone who benefits from union representation has to share in the cost of the representation. Under current law, companies can impose all sorts of conditions on their workers, such as wearing stupid hats, and even having insurance that comports with the boss's religious beliefs.
Saturday, February 17, 2018The Washington Post's Long-Running Attack on Unions The immediate issue before the court is whether the government can sign a contract with a union that requires that everyone who benefits from union representation has to share in the cost of the representation. Under current law, companies can impose all sorts of conditions on their workers, such as wearing stupid hats, and even having insurance that comports with the boss's religious beliefs.
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Saturday, January 12, 2019
Declining Birth Rates: Are We in Danger of Running Out of People? The United States badly lags other rich countries in providing support to new parents. We are the only wealthy country that does not guarantee workers some amount of paid parental leave or sick days. While many companies offer these benefits, millions of new parents, especially those in lower paying jobs, cannot count on any paid leave.
Saturday, January 12, 2019Declining Birth Rates: Are We in Danger of Running Out of People? The United States badly lags other rich countries in providing support to new parents. We are the only wealthy country that does not guarantee workers some amount of paid parental leave or sick days. While many companies offer these benefits, millions of new parents, especially those in lower paying jobs, cannot count on any paid leave.
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Saturday, October 28, 2017
The Problem of Doctors' Salaries If we want to stop paying a $100 billion premium for health care that doesn't make us healthier, we're going to need to overcome political barriers. Getting U.S. health care costs down is a herculean task; getting doctors' pay in line is a big part of the solution. It's time we broke up the doctor cartel.
Saturday, October 28, 2017The Problem of Doctors' Salaries If we want to stop paying a $100 billion premium for health care that doesn't make us healthier, we're going to need to overcome political barriers. Getting U.S. health care costs down is a herculean task; getting doctors' pay in line is a big part of the solution. It's time we broke up the doctor cartel.
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Tuesday, December 3, 2013
Everyday Low Wages at Walmart: Brought to You by Government Policy The folks pushing for the higher pay at Walmart and other chains of low-paying stores and fast food operations are not just asking for a helping hand. They are demanding that we end a government policy that has the effect of redistributing income to the large shareholders at Walmart and other members of the one percent.
Tuesday, December 3, 2013Everyday Low Wages at Walmart: Brought to You by Government Policy The folks pushing for the higher pay at Walmart and other chains of low-paying stores and fast food operations are not just asking for a helping hand. They are demanding that we end a government policy that has the effect of redistributing income to the large shareholders at Walmart and other members of the one percent.
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Monday, October 26, 2015
Monopoly patent protections endanger middle class jobs We used to have all these relatively high-paying jobs in manufacturing and other sectors requiring routinized work, which are now being displaced by machines or, in the near future, robots. Pretty soon robots will also be driving our cars, buses and trucks, as the technology for self-driving vehicles becomes cost efficient.
Monday, October 26, 2015Monopoly patent protections endanger middle class jobs We used to have all these relatively high-paying jobs in manufacturing and other sectors requiring routinized work, which are now being displaced by machines or, in the near future, robots. Pretty soon robots will also be driving our cars, buses and trucks, as the technology for self-driving vehicles becomes cost efficient.
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Wednesday, July 20, 2022
An Urgent Message for the Fed - Don't Get Bullied Into Sparking a Recession The Fed should not pursue a policy that needlessly throws millions of people out of work.
Wednesday, July 20, 2022An Urgent Message for the Fed - Don't Get Bullied Into Sparking a Recession The Fed should not pursue a policy that needlessly throws millions of people out of work.
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Thursday, February 4, 2016
New Yorker Shooting Blindly at Bernie Sanders we are seeing endless shots at Sanders' plans for financial reform, healthcare reform and expanding Social Security. Many of these pieces raise perfectly reasonable questions, both about Sanders' goals and his route for achieving them. But there are also many pieces that just shoot blindly. The view of many in the media is that Sanders is a fringe candidate. The New Yorker is clearly in this attack mode.
Thursday, February 4, 2016New Yorker Shooting Blindly at Bernie Sanders we are seeing endless shots at Sanders' plans for financial reform, healthcare reform and expanding Social Security. Many of these pieces raise perfectly reasonable questions, both about Sanders' goals and his route for achieving them. But there are also many pieces that just shoot blindly. The view of many in the media is that Sanders is a fringe candidate. The New Yorker is clearly in this attack mode.
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Tuesday, November 28, 2017
Janet Yellen and Barack Obama's Economy Is Looking Good It is important that people recognize that the economy is going in the right direction for now. This is the economy that Janet Yellen and Barack Obama's policies gave us. We will have to see what the impact of the new regime's policy will be.
Tuesday, November 28, 2017Janet Yellen and Barack Obama's Economy Is Looking Good It is important that people recognize that the economy is going in the right direction for now. This is the economy that Janet Yellen and Barack Obama's policies gave us. We will have to see what the impact of the new regime's policy will be.
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Tuesday, November 29, 2011
Time to Retake Politics From the One Percent in Both Political Parties It's time to expose the lies for what they are. The monied class has rigged the deck to accomplish the most massive upward redistribution in the history of the world. These are not people who care about free markets, capitalism, right & wrong: they care about making themselves richer at the expense of everyone else & they are willing to go to any lenghts to continue their looting.
Tuesday, November 29, 2011Time to Retake Politics From the One Percent in Both Political Parties It's time to expose the lies for what they are. The monied class has rigged the deck to accomplish the most massive upward redistribution in the history of the world. These are not people who care about free markets, capitalism, right & wrong: they care about making themselves richer at the expense of everyone else & they are willing to go to any lenghts to continue their looting.
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Monday, February 17, 2020
Trump Wants to Inflict Severe Pain on Disabled Community Just Because He Can The "need" to strip benefits from poor and working people to help maintain the lifestyles of the Mar-a-Lago set is one of the fundamental principles of Donald Trump and the Republican Party. The rich always "need" more tax cuts, so when budget deficits get in the way, those at the middle and bottom are just going to have to sacrifice.
Monday, February 17, 2020Trump Wants to Inflict Severe Pain on Disabled Community Just Because He Can The "need" to strip benefits from poor and working people to help maintain the lifestyles of the Mar-a-Lago set is one of the fundamental principles of Donald Trump and the Republican Party. The rich always "need" more tax cuts, so when budget deficits get in the way, those at the middle and bottom are just going to have to sacrifice.
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Monday, August 12, 2019
Progressive Policies May Hurt the Stock Market. That's Not a Bad Thing. Last week, we saw the media terrified over a plunge in the stock market following an escalation of Donald Trump's trade war with China. There are good reasons to be concerned about Trump's ill-defined trade war and reality TV tactics, but the plunge in the stock market is not one of them.
Monday, August 12, 2019Progressive Policies May Hurt the Stock Market. That's Not a Bad Thing. Last week, we saw the media terrified over a plunge in the stock market following an escalation of Donald Trump's trade war with China. There are good reasons to be concerned about Trump's ill-defined trade war and reality TV tactics, but the plunge in the stock market is not one of them.
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Monday, December 23, 2013
Ben Bernanke's tenure at the Fed wasn't net positive Bernanke deserves credit for sticking to his guns through this ordeal and taking the limited steps available to the Fed for boosting demand. Given that the economy is still far below full employment, and that we are likely to be haunted by the bigger than ever Wall Street behemoths long into the future, it is hard see Bernanke's tenure as net positive.
Monday, December 23, 2013Ben Bernanke's tenure at the Fed wasn't net positive Bernanke deserves credit for sticking to his guns through this ordeal and taking the limited steps available to the Fed for boosting demand. Given that the economy is still far below full employment, and that we are likely to be haunted by the bigger than ever Wall Street behemoths long into the future, it is hard see Bernanke's tenure as net positive.
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Monday, August 19, 2019
China Did Not Trick the US -- Trade Negotiators Served Corporate Interests The U.S. trade deficit with China was not an accident. Both Republican and Democratic administrations signed trade deals that made it easy to manufacture goods in China and other countries, and then export them back to the United States.
Monday, August 19, 2019China Did Not Trick the US -- Trade Negotiators Served Corporate Interests The U.S. trade deficit with China was not an accident. Both Republican and Democratic administrations signed trade deals that made it easy to manufacture goods in China and other countries, and then export them back to the United States.
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