J. Bradford DeLong's Blog, page 2218
August 28, 2010
The Long Twilight Fight Club
Jim Henley:
The Long Twilight Fight Club § Unqualified Offerings: In comments downblog, Gary Farber tries get clever:
The reason losing the Vietnam War was supposed to be a Bad Thing was because it would make the U.S. look irresolute and weak.
We seem to have survived.
Please. We “survived” the humiliation of Vietnam because our only real threat was a nuclear-armed superpower that managed to align itself for a time with a worldwide tide of anti-colonialism...
Stephen Gandel Is a... (Time Magazine FAIL Edition)
Stephen Gandel writes:
How High Should Taxes be Raised?: A blogger for Ezra Klein's policy blog over at the Washington Post recently asked a number of economists what they thought the top tax rate for the wealthiest Americans should be, and the answers were all over the map. Emmanuel Saez, a prof at Berkeley and a tax expert, said the top federal income tax rate, currently 35%, should be raised to 69%...
1) What my colleague down the hall Emmanuel Saez says was is if you want...
Stephen Gandel Is a Real Idiot (Time Magazine FAIL Edition)
Stephen Gandel writes:
How High Should Taxes be Raised?: A blogger for Ezra Klein's policy blog over at the Washington Post recently asked a number of economists what they thought the top tax rate for the wealthiest Americans should be, and the answers were all over the map. Emmanuel Saez, a prof at Berkeley and a tax expert, said the top federal income tax rate, currently 35%, should be raised to 69%...
1) What my colleague down the hall Emmanuel Saez says was is if you want...
August 27, 2010
Hoisted from the Archives: The U.S. Macroeconomic Situation as of June 18, 2009
Comment for the Economist on Christina Romer (2009), "The Lessons of 1937": Five Lessons from 1937 and Otherwhen:
Let me make five points to eliminate or refute or at least to fight against or lay down a marker that there is--well, call it "confusion" about what the right state of policy for the American macroeconomy should be.
My first point is that over the past six months the economy has been a severe disappointment. Output and employment have fallen much faster than people were...
Hookouduvnoed?
Paul Krugman:
Nobody Could Have Predicted: One point I haven’t seen made about the troubles of the US economy is that the timing of recent growth tells you a lot about what was — and what wasn’t — wrong with economic policy. After all, we had more or less a consensus view about when the stimulus would kick in... the peak impact of growth come in 2009.... [S:]timulus worked as long as it lasted, boosting the economy — which is the same conclusion Adam Posen drew from Japan’s experience......
links for 2010-08-27
Mark Thoma: The Fed's Wait and See Policy is a Mistake: http://tinyurl.com/2f9r5mm #worthreading
Economist's View: Michael Woodford's Magic Spell
Mark Thoma: Michael Woodford's Magic Spell: http://tinyurl.com/29f5w8v #worthreading
Ricardo Caballero: On the Macroeconomics of Asset Shortages...
Declaration by UNITED NATIONS...
...subscribing to the principles of the Atlantic Charter:
A Joint Declaration by the United States of America, the United Kingdom of Great Britain and Northern Ireland, the Union of Soviet Socialist Republics, China, Australia, Belgium, Canada, Costa Rica, Cuba, Czechoslovakia, Dominican Republic, El Salvador, Greece, Guatemala, Haiti, Honduras, India, Luxembourg, Netherlands, New Zealand, Nicaragua, Norway, Panama, Poland, South Africa, Yugoslavia.
The Governments signatory...
Mark-My-Beliefs to Market Time
There is a danger in this business. If you don't mark your beliefs to market occasionally, and throw out worthless intellectual trash, you ossify--you become one of those demented old coots detached from reality ranting unintelligibly at the moon.
I was reminded of this recently as the intelligent, thoughtful, patient, and polite Nick Rowe suddenly turned... shrill:
Nick Rowe Loses It: Oh Christ. Oh Christ. Oh Christ. SW interprets Kocherlakota the same way I do, and thinks he’s right...
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