Blog Profile / EconLog

Filed Under:Business & Finance / Economics
Posts on Regator:6029
Posts / Week:12.9
Archived Since:March 2, 2008

Blog Post Archive

Munger on the Basic Income Guarantee

(January 18, 2017 11:24 AM, by Amy Willis) In a very lively EconTalk episode this week, listener favorite Mike Munger returns to discuss his support for a basic income guarantee, or BIG. It's a pretty heated conversation, especially for BFFs Munger and Roberts...We'd like to know where... (0 COMMENTS)

The Economics of the Affordable Car Insurance Act

(January 17, 2017 04:56 PM, by David Henderson) The Affordable Car Insurance Act (ACIA), which President-elect Donald Trump and the Republican-controlled Congress have vowed to repeal, was crafted to overcome two basic problems in the provision of car insurance in the United States. First, the costs are incredibly... (0 COMMENTS)

My End-of-the-World Bet with Eliezer Yudkowsky

(January 17, 2017 02:45 PM, by Bryan Caplan) Famed futurist Eliezer Yudkowsky fears the imminent end of the world at the hands of Unfriendly Artificial Intelligence. I find this worry fanciful. Many people in Eliezer's position would just dismiss my head-in-the-sandedness, but he's also genuinely impressed with my... (0 COMMENTS)

Williamson on Rogoff's Case Against Cash

(January 16, 2017 04:22 PM, by David Henderson) St. Louis Federal Reserve Bank Vice-President and economist Stephen D. Williamson has written a critical review of Kenneth Rogoff's The Curse of Cash. I use the word "critical" in the sense we academics use it: a balanced critique that looks... (0 COMMENTS)

The peculiar persistence of monetary policy denialism

(January 16, 2017 11:12 AM, by Scott Sumner) When I was in grad school in the late 1970s, there was increased interest in the "monetary ineffectiveness proposition", which posited that money was neutral and monetary policy did not impact real variables. There was virtually no interest (at Chicago)... (0 COMMENTS)

Liquidity traps and stupidity traps

(January 14, 2017 04:30 PM, by Scott Sumner) Many people are puzzled by the fact that Japan continues to fall short of its 2% inflation target. Some attribute this the Japan being in a "liquidity trap". But surely that can't be the complete explanation. If Zimbabwe can find... (0 COMMENTS)

Why Are Drug Prices So High?

(January 14, 2017 12:13 PM, by David Henderson) Economists have shown that the cost to get one drug to market successfully is now more than $2.8 billion. This cost has been growing at 7.5 percent per year, more than doubling every ten years. Most of this cost... (0 COMMENTS)

Was Obamacare truly evil, or just a missed opportunity?

(January 13, 2017 11:06 AM, by Scott Sumner) I was mildly opposed to Obamacare, but mostly because I thought it was a missed opportunity to reform health care. I was bemused to see very strident opposition to the program on the right, with some pretty hyperbolic language about... (0 COMMENTS)

Was USAID Behind Indian Government's War on Cash?

(January 12, 2017 06:38 PM, by David Henderson) On November 8, Indian prime minster Narendra Modi announced that the two largest denominations of banknotes could not be used for payments any more with almost immediate effect. Owners could only recoup their value by putting them into a bank... (0 COMMENTS)

Recession, Stagnation, and Monetary Policy

(January 12, 2017 10:30 AM, by Amy Willis) What made the "Great Recession" great? How did its effects, and the policy responses prompted by it, differ from those seen with earlier recessions? This week's EconTalk episode, with Stanford economist and Chairman of the NBER's Business Cycle Dating... (0 COMMENTS)

Border tax bleg

(January 12, 2017 02:36 PM, by Scott Sumner) Martin Feldstein had a recent piece in the WSJ that defended the idea of a border tax adjustment, which would be a part of the proposed corporate tax reform. He points out that if imports were no longer deductible, and... (0 COMMENTS)

Trump's Trade Trifecta

(January 11, 2017 01:59 PM, by David Henderson) Well, it's now obvious that Canada has not dodged a bullet. One of President-elect Trump's most sincerely held views is that free trade is suspect. He buys into virtually every mercantilist myth, even claiming in a recent tweet, "China has... (0 COMMENTS)

Monetary offset isn't really a choice, it's built in to policy

(January 11, 2017 11:58 AM, by Scott Sumner) James Alexander directed me to a very good Bloomberg article on "monetary offset": Federal Reserve Chair Janet Yellen may well be thinking it. Jeffrey Lacker, president of the Richmond Fed, came close to saying it. "A more stimulative fiscal outlook... (0 COMMENTS)

Deficits always matter

(January 10, 2017 04:52 PM, by Scott Sumner) Paul Krugman has a new post entitled "Deficits Matter Again": Not long ago prominent Republicans like Paul Ryan, the speaker of the House, liked to warn in apocalyptic terms about the dangers of budget deficits, declaring that a Greek-style crisis... (0 COMMENTS)

Hugh Hewitt on the Interest Deduction

(January 10, 2017 03:05 PM, by David Henderson) In yesterday's Wall Street Journal, talk radio host Hugh Hewitt has an op/ed titled "Policy Purity is Bad Politics." In it, he argues against capping the mortgage interest deduction. I'll comment on three things: 1. His economic analysis, 2. His... (0 COMMENTS)

Gruber on Romney and Obama

(January 9, 2017 09:00 PM, by David Henderson) I found this 33-minute PBS interview of Jonathan Gruber, one of the architects of both Romneycare in Massachusetts and Obamacare for the United States, interesting. I've posted about Gruber earlier in these 14 posts. The interviewer is lobbing softballs throughout,... (0 COMMENTS)

Spending on consumption vs. spending on investment

(January 8, 2017 03:25 PM, by Scott Sumner) Brian Moore asked me the following question: I have read your site for years, but this is the first time I felt compelled to ask a question: some friends and I were discussing the various benefits to society that would... (3 COMMENTS)

Milton Friedman: The Compromise Candidate

(January 8, 2017 04:11 AM, by Emily Skarbek) As the economics job market is underway and the AEA meetings in Chicago wrap up today, it is perhaps apropos to recount how one of the leading figures of economics in the 20th century was hired. Milton Friedman is one... (4 COMMENTS)

McArdle Advocates Paternalism

(January 7, 2017 10:07 PM, by David Henderson) And it's expensive paternalism. Megan McArdle of Bloomberg, who is normally a first-rate analyst of economic issues, has written an inaccurate attack on 401(k) plans and, worse, proposes a huge paternalistic government program for retirement in her column "The 401(k)... (0 COMMENTS)

Stigler on Shaw on Income Equality

(January 6, 2017 03:33 PM, by David Henderson) I enjoyed rereading George Stigler's 1959 piece "Shaw, Webb, and Fabian Socialism," which I posted about earlier. Here's another excerpt: Shaw and Webb discharged a portion, but only a very small portion. of the duties of a responsible proponent... (5 COMMENTS)

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