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Saturday, April 19, 2014

Yet Another Shoddy Democratic Hack Job from Paul Krugman on ObamaCare

I know, I know. Film at 11! But let us sorrowfully pull on our waders and look at Krugman’s latest.

Latest Froth Indicator: Micro Private Equity Funds, aka “Search Funds”

Who in their right mind would want to invest in a search fund?

Don Quijones: “Uncreative” Destruction – The Troika’s Hostile Takeover of Europe

How the Troika is overriding national constitutions and popular will to strip-mine Europe’s periphery countries on behalf of banks.

Joan Robinson’s “Introduction to Modern Economics”

One of the more shocking things about Robinson’s textbook is the way many core features of neoclassical economics are brushed away in a sentence or paragraph as mere metaphysical reasoning. She defines such reasoning as being “applied to a use of language that conveys no factual information, describes no logical relations nor gives precise instructions and yet is calculated to affect conduct.”

Links 4/15/14

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Planned Obsolescence Disguised as Innovation, Oligopoly Disguised as a Free Market, and the Enrichment of Oligarchs

We are delighted to feature this post from Roy Poses, who with his colleagues at Health Care Renewal, have been providing consistently high quality analysis of the often dubious practices and economics of the health care system.

Richard Alford: Has the Fed Learned Monetary Policy Lessons from the Financial Crisis?

Yves here. This post is a devastating critique of current Fed policy. But Alford sets his stage carefully before delivering his conclusions, so don’t be deceived by the tone of the early sections.

SEC is Kinda Thinking About Doing Something About High Frequency Trading

Why the SEC’s latest trial balloon about what it might do about high frequency trading is an embarrassment.

Paul Ryan’s “New” Austerity Budget

Paul Ryan’s austerity budget is demonstrably failed economic policy in a new bottle.

Links 4/14/14

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“There Will Be Growth in the Spring”: How Well do Economists Predict Turning Points?

Forecasters have a poor reputation for predicting turning points into recessions. This column quantifies their ability to do so, and explores several reasons why both official and private forecasters may fail to call a recession before it happens.

Quebec Voters Reject the Parti Québécois and Elect a Liberal Government

Yesterday, readers mentioned this wonderful artwork from 2012′s Printemps érable in Montreal[1]. And today we have election results from Quebec. The Real News Network interviews Leo Panitch, Canada Research Chair in Comparative Political Economy and a distinguished research professor of political science at York University in Toronto.

Philip Pilkington: The Yield Curve and Recessions – Against US-Centricism

One of the nicest stylised facts in applied economics is that if the Fed inverts the yield curve it will cause a recession. But how applicable is it?

Are Administration Claims of Progress on TransPacific Partnership Negotiations in Japan Credible?

As readers may know, the mislabeled trade deal known as the TransPacific Partnership hasn’t looked like it has great odds of being consummated. But the Administration has been browbeating Japan, and has also been talking of breakthroughs in negotiations. Has the dynamic changed?

Fourth Anniversary of Gulf Oil Spill: Wildlife Is Still Suffering from Toxic Cover Up

BP and the Government Decided to Temporarily Hide the Oil by Sinking It with Toxic Chemicals … The Gulf Ecosystem Is Now Paying the Price