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Category Archives: Economics

Doctors, Lawyers, and the 1%

I’m a big fan of Dean Baker, but there’s one point he makes repeatedly upon which I beg to differ somewhat. His post today alludes to the issue: Hey, can an experienced doctor from Germany show up and start practicing in New York next week? Since the answer is no, we can say that we […]

Economics made easy

The folks, alas a “bipartisan” group, supporting the Trans Pacific Partnership have been touting a “study” by the Peterson Institute for International Economics that purports to show that everything will be rosy if we ultimately pass the treaty. We have a prejorative term in the legal profession that is applied to some judges. (Scalia comes […]

Something happening here, what it is…

Well, you know the rest of the song, provided you’re over 60. Anyway, while the media is focused on which little Hitler will get the Republican nomination, the banks (remember them) appear to be headed for another crash. Here’s Krugman: While we obsess over domestic politics — not that there’s anything wrong with that, since […]

Seven Stages

Glenn Greenwald traces the Seven Stages of Establishment Backlash, demonstrated completely in the case of Jeremy Corbyn in Britain, and in process here in the U.S. in the case of Bernie Sanders. Other than the numerical quantities, there isn’t much parallel with the Seven Stages of Grief, particularly at stage 7. In the case of […]

What, me cynical?

Apparently, there is a movement afoot to abolish tipping in restaurants, and we are supposed to believe this is a good thing for the employees involved. The theory is that restaurant should pay their employees a living wage, increase their prices to cover that cost, and we can then all be happy, knowing that we […]

Student Loan Madness

Apparently, according to standard economic theory, the source of money used to purchase something, or invest in something, should not affect the price of that something. That is, over time, the cost of a given item or service should not rise just because most of the funds used to purchase that item or service comes […]

Krugman mostly gets it

Blogging has been sporadic, inasmuch as my days have been spent writing at work, so by the time I get home, I can’t stand the thought of getting near a keyboard. Today was one of those days too, but I have one pathetic post in me, so why not. I read Paul Krugman’s blog religiously. […]

Surprise from the land of the Mormons

This is truly amazing. From the state that just voted to kill people by firing squad, we have a piece of legislation that is so far ahead of its time that it’s stunning: With just a point and a click, you can browse a face book of felons, a new government website that will warn […]

Sinners casting stones

When I saw this article's (White House to File Case Against China at W.T.O. Over Subsidies for Exports) title in this morning's Times, I immediately smelled a rat. The stench grew stronger as I read. I could tell by the title that this “case” was a PR move intended to smooth the way for the […]

Blinded in the Beltway

I like Richard Blumenthal, but like all politicians (like all people for that matter he's not perfect. Minor mistakes can be forgiven. It is nonetheless distressing to see him buy into an argument that only denizens of the Beltway could swallow. He is co-sponsoring a bill that would allow yet more H1-B workers into the […]