EconoSpeak
Friday, September 30, 2016

Mankiw on Navarro – a Teachable Moment?

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I’m not known to praise Greg Mankiw often but this post on the Navarro nonsense was worth the read: Their analysis of trade deficits, sta...

Compared to What? The Counterfactual to Sweatshops in Developing Countries

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One of the most tiresome, useless debates in economic policy is over the merits of sweatshop employment in low income countries.  On the one...
1 comment:
Thursday, September 29, 2016

Navarro’s Nonsense on Net Exports

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Paul Krugman and Scott Sumner focus on the trade balance discussion by Peter Navarro . After all – this part of his nonsensical writing wa...
6 comments:
Tuesday, September 27, 2016

Peter Navarro’s Scoring of Trump’s Economic Proposals

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My inbox just received a weird hodgepodge of economic claims ala Peter Navarro : Donald Trump’s economic plan proposes tax cuts, reduced re...
6 comments:
Monday, September 26, 2016

The Mystic Labyrinth of Free Trade

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It seems after all that the free-trade doctrine is just a more subtle form of mercantilism. -- Joan Robinson In The Wealth of Nations, Ada...
Sunday, September 25, 2016

The Case for Equilibrium: coinage, usury and bills of exchange

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In my previous post , I discussed Joan Robinson's objection to the concept of equilibrium as precisely the habitual mode of thought fro...

The New Men Without Jobs Conservative Excuse

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FRED notes that the employment to population ratio for men aged 25-54 was 87.5% before the Great Recession. It fell to less than 81% during...
14 comments:
Saturday, September 24, 2016

All Models are False: The Internet/Computer Explanation of Major Recessions

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Uneasy Money has a wonderful post on the “all models are false dodge”. Nothing really to add but I especially enjoyed this: Romer’s most e...
6 comments:
Friday, September 23, 2016

Equilibrium and Information Literacy

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"Everybody except Joan Robinson agrees about capital theory." -- Robert Solow (as paraphrased by Robinson) An essential text in ...
6 comments:
Thursday, September 22, 2016

How Many Ways Can Niall Ferguson Contradict Himself on Economics?

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His latest : To see why Trump is gaining on Clinton, despite his numerous flaws as a candidate, just compare their economic policy proposal...
4 comments:
Wednesday, September 21, 2016

One Man's Profit is Another's Loss

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There is this fixed quantity of whatever it is and if you get more, I get less. One man's profit is another's loss. This dogma was...
5 comments:

On the Research Front: Dolphins Let Each Other Finish Their Sentences

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Researchers at the Karadag Nature Reserve, in Feodosia, Ukraine, recorded two Black Sea bottlenose dolphins, called Yasha and Yana, talking...
Tuesday, September 20, 2016

It Is Monday, And The Washington Post Is Saying Dumb Things About Foreign Policy As Well As Economics

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(Well, Monday is now over, but... ) Yes, Robert J. Samuelson has a column about the Fed that ignores austerity fiscal  policies and other ma...
2 comments:
Monday, September 19, 2016

Nine Spades Are a Lump of Leets

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The section on capital from Joan Robinson's 1970 review of Charles Ferguson's The Neoclassical Theory of Production and Distribution...
Sunday, September 18, 2016

Why Are the Big Banks Not Safer?

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Larry Summers and Natasha Sarin report: Since the financial crisis, there have been major changes in the regulation of large financial ins...
1 comment:
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