Brad Delong has had enough. So have I. "The Little Depression" Back in late 2008 people asked me: is this a recession or a depression? I said that I would call it a depression if the unemployment rate kissed 12%. I said that I would call it a depression if the unemployment rate stayed above … Continue reading What to Call This Unpleasantness? Little Depression or Workers’ Depression?
John Quiggin of Crooked Timber sends us to Grist.org for "Solar Gets Cheap Fast" for good news about solar power. The cost of producing solar photovoltaic cells (the silicon-based cells that convert sunlight to electricity) has been declining consistently at 20% per year since the early 1980's. Solar power is now close to the point … Continue reading Solar Power Looking Brighter Economically
I learned long ago when working in applied economics that averages (means or median data) often hide as much information as they impart. To really understand an issue, we need to look at the variation or distribution. Therein always lies a tale. Yves Smith at Naked Capitalism (also the author of Econned), brings our attention … Continue reading U.S. Life Expectancy Falling In Some Parts
Whenever some politician, typically a progressive, begins to talk about redistribution of income, the more conservative politicians, backed by "serious political pundits" counterattack by claiming "class warfare". It's apparently one of the givens in Washington that any form of redistribution of income, be it by progressive taxes, measures to protect unions, help to the unemployed, … Continue reading We’ve Had Class Warfare Since 1980 – The Workers Lost