Larry Summers: Reagan’s Tax Plan Was Better Than Trump’s
Summers on inequality, the GOP tax plan, and US economic prospects.
Read more...Category Archives: Economic fundamentals
Bill Black: DSGE Dilettantes v. ADM God Devotees
Black shows how DSGE defenses fall apart, even as their backers lash out at critics.
Read more...Why Stopping Tax “Reform” Won’t Stop Inequality
Inequality isn’t driven by taxes—it’s driven by the power of capital in relation to workers.
Read more...EU’s Michel Barnier Clears Throat to Tell the UK It Won’t Get a Special Deal…After God Knows How Many EU Leaders Have Already Said That
The EU is still making a lot of noise to get the UK to begin to hear things the EU has been saying since the morning after the Brexit vote.
Read more...Is The Oil Glut Set To Return?
EA gives a downbeat forecast for oil prices in 2018.
Read more...Student Loan Defaults Approach 5 Million….Using a Very Permissive Definition of “Default”
The latest sighting on the student loan front is not pretty, and would be even uglier if the right metrics were used.
Read more...David Davis Points Out Brexit “Breakthrough” Isn’t Binding as Draft European Council Statement Tightens the Screws
More discussion of the overhyped Brexit “breakthrough” of last Friday.
Read more...How Hayek’s Evolutionary Theory Disproves His Politics
How critics of Hayek, like those of Marx, fixate on his politics and ignore his important economic insights.
Read more...Brexit “Breakthrough”: Headfake or May Trying to Engineer Further Capitulation to EU?
The UK has managed show “sufficient progress” so as to be allowed to go to the\ next phase of Brexit talks. But what does that really mean?
Read more...Benign Effects of Automation: New Evidence from Patent Texts
A new study on automation suggests that even if the robots are coming for your job, they create even more jobs.
Read more...Eastern Europe Showed How Neoliberalism Produces Reactionary Populism, Like Trump
Trump’s antecedents in Eastern Europe show how widening inequality and failed economic promises pave the way for reactionary politics.
Read more...Tax Cuts, Wages and Salaries: Will Lower Taxes and Profit Repatriation Help Workers?
Debunking some of the claims of tax “reform” proponents, like that giving companies a tax break to repatriate profits will create jobs.
Read more...Japan’s Tight Labor Market Generates Deflation…
Puzzling over Japan’s super low unemployment with continued deflation.
Read more...Global Value Chains, Trade Shocks and Jobs: An Application to Brexit
A conservative analysis, incorporating the impact on value chains, estimates the UK will face a 4.7% GDP fall in a hard Brexit scenario.
Read more...Nothing Natural About the Natural Rate of Unemployment
Lambert here: “Natural” is indeed one of those words you should watch out for (like “we”). As in, for instance, “natural disaster.” And, of course, the Natural Rate of Unemployment (NAIRU). It’s often amusing to replace “natural” with “artificial”; generally there’s no loss of meaning, and often additional clarity is induced. By Edmund Phelps, the […]
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