Who’s responsible for the boom (and the bust)?

What if one of the shibboleths of our time is wrong? For years I’ve read that incomes have declined for everyone not in the top one percent since the late seventies. But a new study says that median household income increased for everyone under Reagan and Clinton: Robert J Shapiro, a former economic adviser toContinue reading “Who’s responsible for the boom (and the bust)?”

‘No evidence that raising the minimum wage costs jobs’

Because HRC wont Answer Questions, does this mean reporters can ignore policy statements? Her economic speech at the beginning of the week had good parts and moments reminiscent of her husband’s sprinkling of crumbs to a leftist base that was suspicious of him since spring ’92. Paul Krugman looks at the canard regarding the hazardContinue reading “‘No evidence that raising the minimum wage costs jobs’”

Fairness, etc

“Republicans say they’ll get you as far as your employer’s door, while Democrats want to walk inside with you” is the fairest thing any liberal’s written about a Republican since Eisenhower died, and Paul Waldman‘s dissection of the details in the president’s executive decision to raise the income necessary to quality for overtime hours isContinue reading “Fairness, etc”

Poverty ‘as a matter of values’

Paul Krugman: Most notably, mortality among white women has increased sharply since the 1990s, with the rise surely concentrated among the poor and poorly educated; life expectancy among less educated whites has been falling at rates reminiscent of the collapse of life expectancy in post-Communist Russia. And yes, these excess deaths are the result ofContinue reading “Poverty ‘as a matter of values’”

‘We Danes accept that a burger is expensive’

Americans who have their hearts set on working for the Burger King Corporation should emigrate. In Denmark, the average fast food employee earns the equivalent of twenty dollars. Socialism! In Denmark, fast-food workers are guaranteed benefits their American counterparts could only dream of. Under the industry’s collective agreement, there are five weeks’ paid vacation, paidContinue reading “‘We Danes accept that a burger is expensive’”

“The mark of a sophisticated mind is to understand that some solutions work in some cases but not in others.”

Please study that graph. Forget South Korea and the Yoo Kay – Estonia has faster and cheaper broadband. Arguing that internet is as much a necessity as health care, David Atkins goes further: because health care and internet are necessities, they shouldn’t be subject to the vagaries of the free market: Allowing a “free market”Continue reading ““The mark of a sophisticated mind is to understand that some solutions work in some cases but not in others.””

Boo-hoo alert: Zions expected “to take a big loss” thanks to Volcker Rule

Well, isn’t this precious? When Zions Bank announced last month that it expected to take a big loss because of the Volcker Rule, it set off alarms all over Washington. Regulators scrambled to say they were considering changing the rule, but that was evidently not enough for some legislators. Representative Jeb Hensarling, a Republican ofContinue reading “Boo-hoo alert: Zions expected “to take a big loss” thanks to Volcker Rule”

“The poor are poor”

My eyes popped like Roger Rabbit’s yesterday upon reading Matthew Yglesias’ Slate column. David Atkins responds: Which leads to the other great failure of rational actor theory in libertarian economics: the artificial separation of government and the governed in a democratic society. At least in representative democracies, the government exists as a mutual compact ofContinue reading ““The poor are poor””

“A paper tiger”

Rolling Stone published a new Matt Taibbi story on the bailouts. Among the discoveries about the Troubled Assets Relief Program and the way in which Treasury Secretary Hank Paulson and the incoming Obama administration sold the bill: In the letters, [Larry] Summers laid out a five-point plan in which the bailout was pitched as aContinue reading ““A paper tiger””

We’re doomed #134

Leftists, save your contempt of Rick Perry and Michelle Bachmann. Rightists, here’s your real Big Government target. It’s called the Securities and Exchange Commission, and according to Matt Taibbi, it’s been shredding documents on potential criminal investigations for years: …the practice of destroying [matters under inquiry] had begun as early as 1993, and has resultedContinue reading “We’re doomed #134”