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So What Would A Positive Federal Arts Policy Look Like In The Trump Era?

Economist Tyler Cowen has some suggestions for how he thinks national arts policy in the United States could improve under a Trump Republican Congress. A futile hope? Here were Cowen's criteria: First, they must save the federal government money, to appeal to the Republican Congress. Second, they should stand a chance of appealing to Trump, […]

Tyler Cowen: Maybe Government Arts Policy Under Trump Might Get Better?

"Whatever problems you might have with the idea of a Trump administration, it opens up the prospect of a real improvement in American arts policy."

Consumer Sovereignty is a Postulate, Not a Given

Tyler Cowen on school vouchers: Since Donald Trump has picked Betsy DeVos to be education secretary, many commentators have been pulling out their anti-school choice arguments from the closet, and for the most part it isn’t a pretty sight. To insist on a single government-run school and trash school choice, while out of the other side... Read more »

Tuesday links: beating the system

Book list: Tyler Cowen’s list of the best non-fiction of 2016 including: The Gene: An Intimate History by Siddhartha Mukherjee.  (Marginal Revolution)

Monday Smackdown: Hoisted from Two Years Ago: Cliff Asness Department

I see that on November 18--7 days before the fifth anniversary of his appearing as lead signatory of the right-wing Republican "Open Letter to Ben Bernnke--Cliff Asness spent 82 minutes talking to Tyler Cowen. The phrase "Federal Reserve" does not appear in the transcript. The phrase "quantitative easing" does not...

The Mystery of Declining Labor Force Participation Continues

Tyler Cowen says there have been a lot of papers about the declining labor force participation of men, so it's about time we investigate the declining labor force participation of women. He recommends a paper by So Kubota, a job market candidate at Princeton. Unfortunately, I ran into a huge roadblock. Show More Summary

Paul Krugman Has Painted Himself into an Odd Corner

Tyler Cowen points out the strange position Paul Krugman find himself in: Having advocated stimulus spending during all of the Obama years, he now has to confront the possibility that Donald Trump will actually provide it (via tax cuts, infrastructure spending, and, I’d add, maybe defense spending too). Show More Summary

Larry Summers's Perspective

(November 18, 2016 01:07 PM, by David Henderson) In a post yesterday, Tyler Cowen writes, "Here is perspective from Larry Summers." Not here is a perspective from Larry Summers. Not here is Larry Summers's perspective. The implication is that Larry Summers has a good perspective. The issue? Trump.... (0 COMMENTS)

Tyler Cowen on fiscal stimulus

(November 15, 2016 12:41 PM, by Scott Sumner) Here's Tyler Cowen in Bloomberg: In Keynesian theory, fiscal policy only works well if you use it in down times and pay off the bill during a boom. Trump seems ready to do the opposite by upping spending as the... (0 COMMENTS)

Voter ID Laws Don't Have Much Effect, But They're Indefensible Anyway

Tyler Cowen points us this morning to a new paper by Enrich Cantoni that uses county-level administrative data from 1992 to 2014 to estimate the effect of voter ID laws. Here's the nut of it: In other words, voter ID laws of all kinds...Show More Summary

Why no China crash? Wrong question

Tyler Cowen recently did a post with this title: Why has it taken so long for a China crash to arrive? Wrong question!  Here are some good questions: 1.  Why hasn’t China had a deep slump?  (i.e. a depression, or at least Great Recession) 2.  Why hasn’t China had a financial crisis? 3.  Why hasn’t […]

"Why we don’t have a carbon tax" ... loose lips sink ships

Tyler Cowen: From Brad Plumer at Vox: “We have done extensive polling on a carbon tax,” Podesta apparently told Clinton adviser Jake Sullivan back in January 2015. “It all sucks.” There is further detail at that link. A quite remarkable David Roberts piece at Vox, worth reading in its entirety,...

The wisdom of Eric Rosengren

Tyler Cowen linked to a Binyamin Appelbaum interview of Boston Fed President Eric Rosengren: Q. A number of the academics at this conference said they don’t think you should be trying to raise rates. What do you make of their hesitations? A. We haven’t hit 2 percent inflation for a while. Some of them have […]

Brexit Threatens British Ice Cream Imports

Tyler Cowen points to the following tidbit in the Financial Times: The plummeting pound is threatening UK households’ supplies of Ben & Jerry’s ice cream and Marmite spread, as Tesco, the country’s biggest supermarket, pulled dozensShow More Summary

Are robots taking our jobs?

(October 9, 2016 02:27 PM, by Scott Sumner) Tyler Cowen and Alex Tabarrok have a new debate on "Econ Duel", discussing whether robots are taking our jobs. Who's right? I don't think we know. Tyler argues in the affirmative, and suggests that this problem will increase over time.... (0 COMMENTS)

"Who will win the Nobel Prize in Economics this coming Monday?"

Tyler Cowen: I’ve never once nailed the timing, but I have two predictions. The first is William Baumol, who is I believe ninety-four years old. His cost-disease hypothesis is very important for understanding the productivity slowdown, see this recent empirical update. Oddly, the hypothesis is most likely false for the...

Trump and the markets

I probably have pretty much the same (negative) view of Trump as does Tyler Cowen.  But I’m not particularly surprised by the stock market evidence that Tyler presents, suggesting that the election of Trump would not have much impact on the market. Tyler points out that in past elections the markets respond to a GOP […]

Who is Peter Navarro?

(September 27, 2016 10:27 AM, by Scott Sumner) Tyler Cowen linked to a paper by Peter Navarro, which discusses Trump's economic plan. To put it simply, it's a complete mess. Here are just a few examples: Under WTO rules, any foreign company that manufactures domestically and exports goods... (1 COMMENTS)

America's Newest Heroes: Bag Thieves and Backpack Snatchers

Via Tyler Cowen, Murray Weiss and Aidan Gardiner tell the story of how police caught the Chelsea bomber so quickly. On Saturday night a couple of enterprising street socialists saw a fine looking suitcase on the sidewalk and decided it was something they could use. Show More Summary

The Conard Line on the Trade Deficit

(September 10, 2016 09:38 PM, by David Henderson) Tyler Cowen writes: This framework makes Conard a revisionist on the U.S. trade deficit. The traditional story is that Americans buy goods from, say, East Asia, and the sellers respond by investing those dollars back in the U.S., a win-win... (0 COMMENTS)

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