J. Bradford DeLong's Blog, page 2204
September 12, 2010
James Fallows on the Execrable Marty Peretz (Why Friends Don't Let Friends Read the New Republic Department)
Fallows:
A Harsh Thing I Should Have Said (Martin Peretz Dept): Usually you regret the harsh things you say more than the harsh things you decide not to say. At least, that's how it usually turns out for me.
Here's an exception. Earlier this week I wrote an item about an incredible instance of public bigotry in the American intelligentsia. I decided not to push the "publish" button, because -- well, I didn't need to say it. Other people were pointing out the bigotry. I had no...
James Hamilton and Cynthia Wu on Non-Standard Monetary Policy
Jim writes:
Should the Fed try to depress long-term yields further?: I've been sharing with readers my recent research with Cynthia Wu, in which we found that the Fed could likely lower long-term interest rates further by buying more long-term securities, even though the short-term rate is essentially zero and even though the newly created reserves would simply sit idle in banks' accounts with the Fed. Here I'd like to take up the question of whether such a policy would be desirable.
...
September 11, 2010
We Are Losing the Struggle That Began on 9/11...
That is how I read this:
Alex Tabarrok: Marginal Revolution: No Checks, No Balances: From the NYTimes
The lead plaintiff is Binyam Mohamed, an Ethiopian citizen and legal resident of Britain who was arrested in Pakistan in 2002. He claimed he was turned over to the C.I.A., which flew him to Morocco and handed him off to its security service.
Moroccan interrogators, he said, held him for 18 months and subjected him to an array of tortures, including cutting his penis...
September 10, 2010
links for 2010-09-10
Ezra Klein: Extending the Bush tax cuts for all Americans is unpopular: http://tinyurl.com/3yov35b #worthreading
Economic policy: Manufactured concern | The Economist
Ryan Avent on Manufacturing: http://tinyurl.com/2u63exn #worthreading
'Irresponsible' Mortgages Have Opened Doors to Many of the...
Recovery and Productivity
From the office next door, Barry Eichengreen writes:
A Productivity Boom-in-Waiting?: BERKELEY – A double-dip recession is one thing, but a lost decade is something far more sinister. In the United States, there is growing concern that the worst recession since the Great Depression has damaged the economy’s capacity to grow.... Having been burned by the crisis, banks have tightened their lending standards.... A more limited supply of bank credit will mean higher capital costs......
Why the Hittites?
Buce asks:
Underbelly: Upside-Down Pyramid Moment::The Hittites: One of my favorite teachers used to say that one of the fun things about history is that you could always look at the same data and see something you never before. "For example," he intoned, "I just last night realized that you can't turn a pyramid upside down." I think I'm having an upside-down pyramid moment. The subject is the Hittites, who developed a great empire in and around Central Anatolia from (say) the 18th to...
Coffee with an Impetuous Young Whippersnapper
Meeting Matt Zeitlin for the first time--and, of course, the meeting is in the shadow of the fact that we have each read most of the words written by the other over the past couple of years.
Did this ever happen before in previous eras of human society? Perhaps Jean-Jacques Rousseau's visit to see Adam Smith--although that did not go well at all...
Unfinished Business re Megan McArdle
I wrote, on May 13, 2008:
Will David Card and Alan Krueger Be Amused?: Megan McArdle writes:
Megan McArdle: So if the only support for your positions [on the minimum wage:] comes from movement think tanks (plus maybe a few marginal academics), your position is probably extremely weak...
Megan McArdle commented...
It's amazing how much stupider I sound when you insert words I didn't say.
What Megan McArdle had written that I was commenting on:
...
Can We Please Shut the Washington Post Down Now for Good?
Round 1:
Washington Post columnist Jonathan Capehart used a tweet from Rep. Jack Kimble of California as a launching pad for a blog post on who is to blame for the current federal deficits...
Round 2:
There is no Rep. Jack Kimble; that Twitter account is a spoof...
Round 3: The Washington Oost's Chris Cilizza:
Twitter holds real peril for political reporters, too.... Jonathan Capehart.... [T:]he double-edged sword that is Twitter.... The immediacy that has...
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