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OpEd News Member for 921 week(s) and 3 day(s)
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Sunday, December 10, 2017
Why Not Make the Rich Compete? The Right has managed to use its control of the rule-setting process to engineer an enormous upward redistribution of income. The process involved the leadership of both political parties, so it's certainly not a story in which right-wing Republicans exclusively can be seen as the villains.
Sunday, December 10, 2017Why Not Make the Rich Compete? The Right has managed to use its control of the rule-setting process to engineer an enormous upward redistribution of income. The process involved the leadership of both political parties, so it's certainly not a story in which right-wing Republicans exclusively can be seen as the villains.
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Saturday, August 11, 2018
Fact Checking the Fact Checker on Medicare for All As an economist and certified numbers geek, I can sympathize with Kessler's complaint that the Democrats aren't giving the full story. But is this really a three Pinocchio offense when we have many leading politicians, like the president, who literally just make things up and just deny well-established facts?
Saturday, August 11, 2018Fact Checking the Fact Checker on Medicare for All As an economist and certified numbers geek, I can sympathize with Kessler's complaint that the Democrats aren't giving the full story. But is this really a three Pinocchio offense when we have many leading politicians, like the president, who literally just make things up and just deny well-established facts?
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Sunday, May 6, 2018
Yes Kids, You Can Have a Promising Career Scaring People About the Debt: Just Ask George Will The vast majority of this debt is fixed rate mortgage debt. This debt is not going to be affected by a rise in interest rates. Car loans are also a large part of the debt. The vast majority of these loans are also fixed rate. Student debt and credit cards are the other major components. Much of the former is also fixed rate.
Sunday, May 6, 2018Yes Kids, You Can Have a Promising Career Scaring People About the Debt: Just Ask George Will The vast majority of this debt is fixed rate mortgage debt. This debt is not going to be affected by a rise in interest rates. Car loans are also a large part of the debt. The vast majority of these loans are also fixed rate. Student debt and credit cards are the other major components. Much of the former is also fixed rate.
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Tuesday, October 10, 2017
Kevin Warsh As Fed Chair: The Art Of Marrying Rich And Falling Upward While there are considerable grounds for criticizing the Fed's performance in recent decades, the people who were appointed as chair all had clear credentials that would justify their selection. That is not the case with Kevin Warsh. More importantly, when he has been in a position to weigh in on the key economic policy issues of the time, he has a near perfect track of being almost 100 percent wrong.
Tuesday, October 10, 2017Kevin Warsh As Fed Chair: The Art Of Marrying Rich And Falling Upward While there are considerable grounds for criticizing the Fed's performance in recent decades, the people who were appointed as chair all had clear credentials that would justify their selection. That is not the case with Kevin Warsh. More importantly, when he has been in a position to weigh in on the key economic policy issues of the time, he has a near perfect track of being almost 100 percent wrong.
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Monday, March 19, 2018
Are the Trump Tax Cuts Working and Does Anyone Care? If the tax cuts actually did produce the sort of investment boom promised by proponents, there would be a good case for cutting the corporate tax rate. We now have good preliminary evidence that the investment boom exists only in the realm of political propaganda. Workers will not be getting any big dividends from this tax cut.
Monday, March 19, 2018Are the Trump Tax Cuts Working and Does Anyone Care? If the tax cuts actually did produce the sort of investment boom promised by proponents, there would be a good case for cutting the corporate tax rate. We now have good preliminary evidence that the investment boom exists only in the realm of political propaganda. Workers will not be getting any big dividends from this tax cut.
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Thursday, September 6, 2012
Romney's Success at Bain Capital: The Business as Scam Model Private equity companies like Bain Capital are not primarily about producing wealth. They profit largely by siphoning off wealth created elsewhere in the economy. There are many different ways in which this diversion of wealth is accomplished. It is not clear that Mitt Romney understands that fact, but certainly the general public should when it goes to vote this fall.
Thursday, September 6, 2012Romney's Success at Bain Capital: The Business as Scam Model Private equity companies like Bain Capital are not primarily about producing wealth. They profit largely by siphoning off wealth created elsewhere in the economy. There are many different ways in which this diversion of wealth is accomplished. It is not clear that Mitt Romney understands that fact, but certainly the general public should when it goes to vote this fall.
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Tuesday, September 5, 2017
Houston, Bangladesh, and Global Warming The emissions from the United States and other wealthy countries will result in a lot of Harvey-like disasters in Bangladesh and elsewhere in the developing world. We should be moving quickly to try to limit the harm. We should also be giving these countries the assistance they need to deal with the disasters that we have caused them.
Tuesday, September 5, 2017Houston, Bangladesh, and Global Warming The emissions from the United States and other wealthy countries will result in a lot of Harvey-like disasters in Bangladesh and elsewhere in the developing world. We should be moving quickly to try to limit the harm. We should also be giving these countries the assistance they need to deal with the disasters that we have caused them.
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Thursday, February 8, 2018
Taking Issue with Paul Krugman, We're Still Not at Full Employment Labor markets can get considerably tighter before we start to see serious problems with inflation. This is an important issue because if we allow the Fed to crack down when there is still room for the economy to expand further we could be needlessly keeping millions of people from getting job and tens of millions from getting pay increases.
Thursday, February 8, 2018Taking Issue with Paul Krugman, We're Still Not at Full Employment Labor markets can get considerably tighter before we start to see serious problems with inflation. This is an important issue because if we allow the Fed to crack down when there is still room for the economy to expand further we could be needlessly keeping millions of people from getting job and tens of millions from getting pay increases.
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Monday, October 14, 2019
Trump Has Been Giving Up Ground in His Much-Vaunted "Trade War" Trump has put protecting the intellectual property of U.S. corporations front and center. This is not a battle that most of us should want to see Trump win. Ordinary workers have no real interest in making people in China and elsewhere pay more for drugs, medical equipment, software, and other items to which US companies have intellectual property claims.
Monday, October 14, 2019Trump Has Been Giving Up Ground in His Much-Vaunted "Trade War" Trump has put protecting the intellectual property of U.S. corporations front and center. This is not a battle that most of us should want to see Trump win. Ordinary workers have no real interest in making people in China and elsewhere pay more for drugs, medical equipment, software, and other items to which US companies have intellectual property claims.
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Tuesday, November 10, 2015
The TPP's Children's Table: Labor Rights and Currency Proponents of the TPP are hoping that the rest of us will be happy that we got seats at the children's table. We will be hearing much about this table as they push to have the deal approved. But it's long past time that the rest of us be treated like adults. Trade and investment policy does not have to be designed to make the rich richer.
Tuesday, November 10, 2015The TPP's Children's Table: Labor Rights and Currency Proponents of the TPP are hoping that the rest of us will be happy that we got seats at the children's table. We will be hearing much about this table as they push to have the deal approved. But it's long past time that the rest of us be treated like adults. Trade and investment policy does not have to be designed to make the rich richer.
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Tuesday, December 19, 2017
Bubbles: Are They Back? Should we be concerned about a bubble now? Stock prices and housing prices are both high by historical standards. House prices are also high by historic standards. Inflation-adjusted house prices are still well below their bubble peaks, but are about 40 percent above their long-term average.
Tuesday, December 19, 2017Bubbles: Are They Back? Should we be concerned about a bubble now? Stock prices and housing prices are both high by historical standards. House prices are also high by historic standards. Inflation-adjusted house prices are still well below their bubble peaks, but are about 40 percent above their long-term average.
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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, July 18, 2019
The Coal Industry is Not a Major Employer It is a bit peculiar that the earlier declines in coal mining employment, which were primarily due to productivity growth (specifically, replacing underground mining with strip mining -- a policy often opposed by environmentalists), received relatively little attention in the media or from politicians.
Thursday, July 18, 2019The Coal Industry is Not a Major Employer It is a bit peculiar that the earlier declines in coal mining employment, which were primarily due to productivity growth (specifically, replacing underground mining with strip mining -- a policy often opposed by environmentalists), received relatively little attention in the media or from politicians.
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Tuesday, May 12, 2020
The Pandemic's Catastrophic Hit to the Labor Market There is some good news in this horrible picture, 78.3 percent of the unemployed are temporary layoffs, meaning they expect to get their old jobs back. That won't always be the case, but this is much better than the opposite.
Tuesday, May 12, 2020The Pandemic's Catastrophic Hit to the Labor Market There is some good news in this horrible picture, 78.3 percent of the unemployed are temporary layoffs, meaning they expect to get their old jobs back. That won't always be the case, but this is much better than the opposite.
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Tuesday, July 26, 2016
Is The Trans-Pacific Partnership Obama's Vietnam? It's hard to see how we gain credibility by pushing a bad trade deal that was designed to serve the interests of our largest corporations. If we want a new trade deal with these and other countries, it would be better to go back to the drawing board and start from scratch. If President Obama can't sell the TPP based on its economic merits, then it would be best to let it quietly die.
Tuesday, July 26, 2016Is The Trans-Pacific Partnership Obama's Vietnam? It's hard to see how we gain credibility by pushing a bad trade deal that was designed to serve the interests of our largest corporations. If we want a new trade deal with these and other countries, it would be better to go back to the drawing board and start from scratch. If President Obama can't sell the TPP based on its economic merits, then it would be best to let it quietly die.
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Wednesday, October 17, 2018
Catastrophic Hurricanes Should Force US to Reassess Climate Policy Major news outlets are unlikely to run major columns demanding action on reducing greenhouse gas emissions when the front page has pictures of flooded streets and grieving family members. Politicians raising such demands are likely to be treated with derision.
Wednesday, October 17, 2018Catastrophic Hurricanes Should Force US to Reassess Climate Policy Major news outlets are unlikely to run major columns demanding action on reducing greenhouse gas emissions when the front page has pictures of flooded streets and grieving family members. Politicians raising such demands are likely to be treated with derision.
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Monday, November 13, 2017
An Honest Approach to Simplifying Corporate Income Taxes The Republicans are trying to pitch their tax cut plan as being a major step toward simplifying the tax code. While there is little doubt the plan will mean large tax cuts for corporations and their shareholders it is not clear that there will be much simplification. Corporations will still be able to have large tax savings by hiding profits overseas and other tricks.
Monday, November 13, 2017An Honest Approach to Simplifying Corporate Income Taxes The Republicans are trying to pitch their tax cut plan as being a major step toward simplifying the tax code. While there is little doubt the plan will mean large tax cuts for corporations and their shareholders it is not clear that there will be much simplification. Corporations will still be able to have large tax savings by hiding profits overseas and other tricks.
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Thursday, July 27, 2017
How about a little accountability for economists when they mess up? the reality is that the financial crisis was very much secondary. The overwhelming reason for the downturn and the weak recovery was the collapse of housing bubbles in the US and elsewhere that were driving growth.
Thursday, July 27, 2017How about a little accountability for economists when they mess up? the reality is that the financial crisis was very much secondary. The overwhelming reason for the downturn and the weak recovery was the collapse of housing bubbles in the US and elsewhere that were driving growth.
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Tuesday, April 10, 2018
New York State's Big Middle Finger to the Republican Tax Plan It is likely that the employer-side payroll tax device will catch on quickly, even though it is not mandatory. It would be great if other liberal states adopted similar workarounds to preserve most of the SALT deduction for their residents. We would get a situation where the only people who lose the benefit of the SALT deduction would be higher-income people living in Republican states.
Tuesday, April 10, 2018New York State's Big Middle Finger to the Republican Tax Plan It is likely that the employer-side payroll tax device will catch on quickly, even though it is not mandatory. It would be great if other liberal states adopted similar workarounds to preserve most of the SALT deduction for their residents. We would get a situation where the only people who lose the benefit of the SALT deduction would be higher-income people living in Republican states.
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Monday, November 6, 2017
Productivity Growth Is Up, Are the Robots Finally Coming? Higher pay also gives employers more incentive to invest in technology in order to reduce their need for workers. And we have seen an uptick in equipment investment over the last year, which is consistent with businesses trying to economize on labor.
Monday, November 6, 2017Productivity Growth Is Up, Are the Robots Finally Coming? Higher pay also gives employers more incentive to invest in technology in order to reduce their need for workers. And we have seen an uptick in equipment investment over the last year, which is consistent with businesses trying to economize on labor.
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