Economics

Mike the Mad Biologist

Category archives for Economics

One of the most frustrating things about Obama’s playing the role of The Great Conciliator is his belief that we should ‘look forward, not back’, that there should be no accountability for those who have failed or committed fraud. Leaving aside notions of justice (which these days is best for one’s sanity), this idiotic belief…

We Are Worrying About the Wrong Deficit

We should be worrying about the employment deficit. Instead, we are worried about the budget deficit. But I’m getting ahead of myself. Nate Silver has a very good post detailing how the Republicans in Congress have positioned themselves to the right of….everybody. But what struck me is that nowhere in the poll would one have…

So GOP Senator Orrin Hatch has decided to embrace his inner douchebag: “I hear how they’re so caring for the poor and so forth,” Hatch said in remarks on the Senate floor Wednesday, in reference to Democrats. “The poor need jobs! And they also need to share some of the responsibility.” …But it was Hatch…

A while ago, I discussed the record low rate of male employment in the U.S. Well, Mike Konczal also has that figure (why read anyone but the Mad Biologist. We are always firstest…). But he notes some other jarring data: You have to go back to pre-1988 to find an era when there were a…

Before I get into the meat of the post, if, after reading this, you end up obsessing over trade deficits too, then I’ve failed (just wanted to make that clear). But imagining what the possible consequences of placing the trade deficit ├╝ber alles would be demonstrates why the current budget deficit fetish is absurd. Because,…

I know that sounds like I’m channeling my inner Yogi Berra, but bear with me. A recent article by David Leonhart refuting claims that college is a waste of money has led to a further round of related posts (as you’ll see, I agree). But the reason the ‘college is a waste’ arguments have any…

This is another resounding success by Treasury Secretary Timothy Geithner: Nearly nine months after its formation, a $30 billion government fund to foster small-business lending has yet to pay out a single dime, even as the nation struggles with traumatic levels of unemployment…. As of this week, 844 institutions have applied for $11.6 billion from…

Bill Gross, the managing director of PIMCO and bond trader, sounds like Mike the Mad Chartalist (italics mine; boldface mine): While the current administration admits that the $25 billion in Recovery Act spending on infrastructure only created 150,000 jobs, it also stabilized and improved this nation’s productivity for years to come. Clean/green energy investments also…

I’ve long held that tenured professors who espouse ‘free trade’ or ‘free markets’ should have their tenure revoked–let’s see how their tune changes (and I do include Krugman in this*). Ditto pundits with cushy sinecures. Let’s put them in a world where they could show up at 9am and be told to pack their things…

Bill Mitchell smacks down some silliness from Peggy Noonan about the supposed looming insolvency of the U.S. (italics mine): She [Noonan] should hang her head in shame for providing further myths that will certainly agitate all the ignorant – uneducated (despite long lists of credentials) – and high blood pressure conservative types who get wound…