I hope you've missed me. I missed writing for you. A combination of a cold, increased responsibilities at school, and a five days of travel-conference have kept me away from the keyboard. So once again I try to keep it going regularly. We'll see. Meanwhile, a nugget of wisdom for all those who wonder … Continue reading Back
Brad Delong quotes Mike Boskin on comparing talking to Principles of Economics students vs. being Chair of the President's Council of Economic Advisors: I think that one of Christie Romer's predecessors as CEA Chair, Stanford economist and Republican Mike Boskin, says it best. Being Chair of the CEA and advising all the political appointees in … Continue reading Just What I Would Imagine
Modern Monetary Theory, MMT, is still considered a heterodox theory and a bit outside the mainstream. That's largely because of two factors. First, graduate economics education in money is largely stuck in quasi-gold standard era stuff from pre-1971. Milton Friedman and his disciples still dominate, despite the facts. Empirical evidence and knowledge of how banks … Continue reading MMT Isn’t All That New
More from Alan Simpson, the man who wants to cut your social security: Simpson said that while every interest group that testified before his committee agreed that the mounting federal debt is a national tragedy, they would then talk about why government funding to their area of interest shouldn't be touched. "We had the greatest … Continue reading Alan Simpson – FAIL again
From EconomicsHelp.org: One of the great challenges for economics is to move political debates on from gross oversimplifications and ideological disputes. Issues cannot be solved with a blanket ideology of government's are bad, government's are good.