(July 25, 2017 01:28 PM, by David Henderson) When I posted on Frank Knight's case for Communism the other day, I also put it on up on Facebook and had some people wondering about context. Those of us who are fans of Frank Knight don't think of... (0 COMMENTS)
From the inbox: Dear Dr. Haab, One of the articles you authored a while ago caught my attention and I am hoping to discuss with you publishing a followup article, or even a review article in the Internal Medicine Review. The article was entitled "A revealed preference approach to valuing...
Improving parenting skills and maternal and child health, researchers say, has been shown to improve children’s well-being later in life.
Neil Irwin had an interesting Upshot piece highlighting a new paper by J.W. Mason arguing that slow productivity growth is in large part due to slow GDP growth. The basic argument is that if growth were faster, labor markets would be...Show More Summary
Binyamin Appelbaum had an interesting discussion of inflation in the NYT yesterday. As he notes, it has been below the Fed's target throughout the recovery and, contrary to expectations, it has been falling in recent months. This suggests that the economy could be operating at a higher level of output with more employment. Show More Summary
S&P/Case-Shiller released the monthly Home Price Indices for May ("May" is a 3 month average of March, April and May prices).This release includes prices for 20 individual cities, two composite indices (for 10 cities and 20 cities) and...Show More Summary
Global equity markets were steady to narrowly mixed in quieter overnight dealings. U.S. stock indexes are pointed toward firmer openings when the New York day session begins. The U.S. indexes are at or near record highs with no early...Show More Summary
Any nation-state that meets these four requirements is fully exposed to a global loss of faith in its economy, debt, balance of payments and currency. There's an entire sub-industry in journalism devoted to the idea that China is poised to replace the... The post There Is Only One Empire: Finance was originally published at The Wall Street Examiner. Follow the money!
Part of “reflation” was always going to be banks making more money in money. These days that is called FICC – Fixed Income, Currency, Commodities. There’s a bunch of activities included in that mix, but it’s mostly derivative trading books forming the backbone of math-as-money money. Show More Summary
There was a funny sort of Congressional exchange all the way back in November 2005 that in a weird way defines our world today. At the nomination proceedings on whether to confirm Ben Bernanke as Alan Greenspan’s successor, Senator Jim Bunning of Kentucky wanted the prospective Fed Chairman to first answer for M3. Show More Summary
“Should we pension off the state pension?” asks Robert Colville. The answer is: emphatically no. Quite the opposite. There’s a case for increasing it. Robert is right that the cost of the state pension will rise over time. The OBR.....
What if the weak productivity growth of the last several years is not the cause of low growth, but rather the result of it?
(July 25, 2017 07:22 AM, by Scott Sumner) I frequently argue that income is a meaningless concept, as it includes capital gains (and losses) in asset values. Indeed the problem is even more basic, as income mixes labor income and all investment income, which is like adding apples... (0 COMMENTS)
The G.O.P. health bill will first need to pass a procedural vote. But even if it passes on Tuesday, expect several days on the Senate floor before a final vote.
Further discussion of why CalPERS' latest Big Idea for private equity needs a Big Rethink.
Why Jared Kunsher's statements in Senate testimony demonstrate that he is unfit to play an official role.
Italy had the largest communist party in Western Europe. Why did ordinary people vote communist? What did they believe in?
If Dimon really wants to know why growth is so slow his research should begin by looking in the mirror.
The fertility of women in developing countries is higher on average than in developed countries, yet many women in developing countries remain childless. This column argues that understanding the causes of why some women choose childlessness is important if we wish to predict the impact that development policies have on the demographic transition of poor countries.