Monthly Archives: October 2013

The 1950s and the Tea Party

Cass Sunstein writes, We can’t easily understand those accusations, contemporary conservative thought or the influence of the Tea Party without appreciating the enduring impact of the Hiss case. I think that David Halberstam’s analysis of the conflict within the Republican … Continue reading

Posted in Politics | 8 Comments

Extortion vs. Trade

Apropos Halloween, George Paci writes, Thursday, American children will be going door-to-door making notional threats in exchange for sugary foodstuffs. (This may or may not be a good analogy for a particular popular political stance.) Friday, American children will be … Continue reading

Posted in Libertarian Thought | Comments Off

Sentences to Ponder

From Robert Wright. Self-doubt can be the first step to moral improvement. But our biases are so subtle, alluring, and persistent that converting a wave of doubt into enduring wisdom takes work. The most-impressive cases of bias neutralization I’m aware … Continue reading

Posted in behavioral economics, Libertarian Thought | 2 Comments

When Will the ACA Exchanges Be Working?

Tyler Cowen writes, The exchanges will be mostly working by March 2014, but by then the risk pool will be dysfunctional. In the meantime, real net prices will creep up, if only through implicit rationing and restrictions on provider networks. … Continue reading

Posted in business economics, Tyler Cowen is my Favorite Blogger | 18 Comments

Macroeconomics Without P

Scott Sumner writes, I frequently argue that inflation is a highly misleading variable, and should be dropped from macroeconomic analysis. To replace it, we’d be better off looking at variables such as NGDP growth and nominal hourly wage rates. If … Continue reading

Posted in PSST and Macro, Scott Sumner is Coherent | 1 Comment

John Kay on Financial Reform

He writes, It is hard enough to find people capable of running financial conglomerates – the fading reputation of Jamie Dimon, JPMorgan Chase chief executive, confirms my suspicion that managing these businesses is beyond the capacity of anyone. The search … Continue reading

Posted in Uncategorized | 4 Comments

Two Lifted from the Comments

1. On this post. Kebko writes, Arnold, you have the causality backwards. The reason the standards for down payments were not reduced in the 1970′s is because the high monthly payments were the bottleneck for qualification. Reducing the down payment … Continue reading

Posted in Housing and housing finance | 5 Comments

The Evolution of the Phillips Curve

James Hamilton writes, But as one can see from the red circles in the graph above, the expectations-adjusted Phillips Curve again seems to be missing over the last 5 years, with the observed inflation rate higher than predicted. Coibion and … Continue reading

Posted in Uncategorized | 1 Comment

Exit, Voice, and Secession

Cnet has an interesting story. The idea of techno-utopian spaces — new countries even — that could operate beyond the bureaucracy and inefficiency of government. It’s a decision that hinges on exiting the current system, as [entrepreneur Balaji] Srinivasan terms … Continue reading

Posted in Uncategorized | 1 Comment

Democrats and Deregulation

A commenter on an earlier post recommended a timeline created by Aaron Rodriguez that lists the attempts (mostly by Bush Administration officials) to regulate Freddie Mac and Fannie Mae. At every turn, they were blocked by Democrats. Read the whole … Continue reading

Posted in Uncategorized | 3 Comments