J. Bradford DeLong's Blog, page 2192
September 27, 2010
In the Words of the Emperor Titus Flavius Vespasianus T. fil. T. fil.: "Pecunia Non Olet!"
There is one more matter about which I feel I must say something. I refer to the controversy to which Richard Tuck referred in his opening remarks this morning [ed. Tuck, the current head of Social Studies and a splendid man, had said a few words about the controversy during his welcoming speech, distancing himself from the content of Peretz's statements.:] I have anguished a great deal about this matter, at one point uncertain whether I ought even to attend the...
September 26, 2010
The Sad Thing Is That Narayana Kocherlakota Was Supposed to Be the Smart One Among the Minnesota Economists...
...and that Bill Clinton once knew what economists to talk to to construct his talking points.
Paul Krugman:
Structure of Excuses: What can be done about mass unemployment? All the wise heads agree: there are no quick or easy answers. There is work to be done, but workers aren’t ready to do it — they’re in the wrong places, or they have the wrong skills. Our problems are “structural,” and will take many years to solve. But don’t bother asking for evidence that justifies this bleak view...
Social Studies 50th Anniversary Symposium: Is There Hope for the Rule of Law in America?
That was the question asked by Denver University Professor Alan Gilbert during the morning panel.
Here is the answer I gave, as best as I can reconstruct it:
The question is: "Is there hope for the rule of law in America?" My answer is: No.
Begin with the assassination of George Villiers, Duke of Buckingham and Prime Minister to King Charles I Stuart, on 23 August 1628. Nobody at the time doubted the king's power to torture the confessed assassin, John Felton, on the rack--the king's...
Liveblogging World War II: September 26, 1940
Death of the 41 year old Mikhail Ilyich Koshkin, chief designer of the Soviet T-34 main battle tank.
High Structural Unemployment Leads to Rising Inflation When Unemployment Falls
Paul Krugman:
What Structural Unemployment Looks Like: One thing I should probably make clear in this discussion of structural unemployment is that I have no problem in principle with the idea that shifts in the economy can temporarily lead to a large rise in the “natural” rate of unemployment. Let me offer a case in point: it was quite clear, circa 1990, that Britain was no longer capable of running unemployment rates as low as those of the 1960s and early 1970s.
But how did we...
September 25, 2010
links for 2010-09-25
tax.com: So How Did the Bush Tax Cuts Work Out for the Economy?
The Way Out of the Slump by Paul Krugman and Robin Wells | The New York Review of Books
Debunking the theory of structural unemployment
Structural Failure - NYTimes.com
...
Larry Mishel on Structural Unemployment Once Again
Larry Mishel:
Claims that today's unemployment is predominantly "structural" should be treated skeptically since that implies that people gainfully employed a year or two ago are now inappropriate for available jobs; The notion that work processes have dramatically changed over the recession, leaving millions of workers unqualified for work, is hard to square with the low levels of investment in equipment and software and the meager productivity growth, just 6.3% in two and-a-half...
Things Not to Do: Part XLIV
Memo to self: do not, in the future, let organizers put the line about me being "Tim Geithner's Chief Internet Apologist" in my biography for a Social Studies conference.
That is all...
The Barrington Moore Problematic and Its Discontents
As delivered in Harvard's Science Center B on Saturday morning:
John Stuart Mill was perhaps the last who was substantially at home in and competent in all the branches of moral philosophy.
Afterwards young scholars paying their dues found it impossible to learn everything and still have time to write anything. Since it is easier to teach undergraduates what you know, specialization in research drove specialization in curriculum. But dividing up the social sciences makes no...
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