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A Prediction about Brookings

(May 3, 2015 04:37 PM, by David Henderson) Greg Mankiw announced on his blog today that he will be speaking at a Brookings Institution event tomorrow. The topic: "40 years later- The relevance of Okun's 'Equality and Efficiency: The Big Tradeoff.'" Here's my prediction: Most, and probably all,... (0 COMMENTS)

Today's Not-Quite-Economic History: Shorter John Holbo: Why the Nazis Are Best Thought of as "Right-Wing"

There is no point in including entire John Holbo posts in Weekend Reading--Crooked Timber (unlike most of the rest of the online world) is highly unlikely to suffer from linkrot, and those who want to read his posts at their Holbonian length can do so over there. Show More Summary

Ranking The Sacred

Consider four possible acts: Eating twinkles Watching Gilligan’s Island Fighting cancer Working for racial justice Now consider pairwise comparisons of value between these acts. You might say which you prefer, or which matters more, or is more important or admirable. It … Continue reading ?

Liveblogging World War II: May 3, 1945: The RAF's Last Battles

Pierre Closterman: [The Big Show]( >In front of us, either on the ground or just taking off, were more than 100 enormous transport planes – theoretically my primary objective. In the air, about 100 enemy fighters. Show More Summary

Tight End of Month Liquidity Just A Tiny Blip In the Ongoing Tidal Wave

The Treasury settled net new supply of $30 billion last week on Thursday, one of those rare times where the weekly settlement and end of month settlement fall on the same day. Outside of these end of month settlements where the Treasury settles new notes, the market has seen nothing but Treasury debt paydowns since…

'US External Debt: A Curious Case'

Should we be worried about the U.S. net international investment position (the difference between US assets abroad and foreign claims on the US)? Paul Krugman says it's "actually a symptom of US relative strength": As Tim Taylor notes, the U.S....

?What drives GM CEO Mary Barra?

The first woman to run a major automaker is on a journey to make General Motors a defect-free company

Venezuela to Nationalize All Food Distribution, Increase Public Wages 30%

To combat food shortages caused by socialist policies including nationalization of half the nation's food supply, Venezuela to Nationalize All Food Distribution. Venezuelan President Nicolas Maduro has promised to nationalise food distribution...Show More Summary

In 1987, the Fed prevented another Great Depression by doing nothing

(May 3, 2015 10:34 AM, by Scott Sumner) Patrick Sullivan left me the following comment: [Read] what Alan Greenspan did in October 1987. He was on an airplane to Dallas on 'Black Monday' when the stock market began to plummet. On arrival he made a few phone calls,... (0 COMMENTS)

Hotels at Record Occupancy Pace in 2015

From STR: US hotel results for week ending 25 April The U.S. hotel industry recorded positive results in the three key performance measurements during the week of 19-25 April 2015, according to data from STR, Inc.In year-over-year measurements, the industry’s occupancy increased 4.3 percent to 69.8 percent. Show More Summary

Where I will be on Monday

Here:40 years later- The relevance of Okun’s "Equality and Efficiency: The Big Tradeoff"

The Real Market Read on What Happened in April

T.S. Eliot must roll over in his grave every time some smart-alecky financial writer says that "April is the cruelest month."

China’s “Great Leap Forward” in Science and Engineering

Over the past two decades China leaped from bit player in global science and engineering (S&E) to become one of the leaders.

So You Think Apple’s Great for America?

Zatlin’s analysis trashes the claims that even though most of Apple’s products are manufactured abroad, the company still generates huge gains for the U.S. economy.

By insisting on a rate hike the Fed has "imported" some of the global slowdown

Economic data out of the United States remains lackluster. We now see more evidence that a strong dollar can be quite damaging to US growth, as manufacturing employment in the US unexpectedly shifts into contraction mode.Source: ISM, Investing.comWith...

The Investor Arbitration Clauses in TPP Are Indeed Very Bad

Compensation for "lost profits" really means "minimizing political risk" for corporations by gutting the ability of democratic governments to protect their citizens.

Deja vu - but the choice is starker this time

My regular column is available to subscribers on This is an excerpt. The election is upon us, the party leaders? voices are getting hoarser, and I don?t suppose many people would mind if they never heard a ?cast-iron...

Milanovic on Solow on Rents and the Decoupling of Productivity and Wages

Branko Milanovic: Bob Solow on rents and decoupling of productivity and wages: Atypical or difficult to explain movements in the capital/labor ratio, productivity per worker and real wages have stimulated recent attempts to square them with neoclassical economics, make some...

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