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economics

From The Atlantic: The Rust Belt Didn’t Have to Happen

Vice President Mike Pence’s hometown of Columbus, Indiana, thrived while other cities declined, because J. Irwin Miller, its wealthiest and most prominent industrialist, remained deeply rooted in and committed to his city. He used his clout, money, and a visionary progressive approach to build up Columbus for long-term success. A new biography of him called […]

Categories
economics The Long Game

Mitch McConnell is burning down the country so he can collect the insurance money.

Call it what it is, burning down the country to collect the insurance money.

Categories
economics

Trump’s HHS embraces socialized medicine

Canadian drugs aren’t cheaper because they went on a medical vacation to Canada. They are cheaper because Canadian socialized medicine works.

Categories
economics trumpsterfire

Waiting for Soybeans to Break 800

Trump’s policy of handing over buckets of cash to farmers to compensate them for the damage his trade policy is causing them is far more socialist than anything the democrats are suggesting. This is the MAGA lined road to serfdom. From: econbrowser.com https://econbrowser.com/archives/2019/05/for-corev-waiting-for-soybeans-to-break-800

Categories
economics

Trump’s steel tariffs cost U.S. consumers $900,000 for every job created, experts say

“U.S. consumers and businesses are paying more than $900,000 a year for every job saved or created by Trump steel tariffs, according to calculations by experts at the Peterson Institute for International Economics. The cost is more than 13 times the typical salary of a steelworker, according to Labor Department data, and it is similar […]

Categories
economics

Milestone: National Debt Tops $22 Trillion For The First Time In History

  “The Congressional Budget Office projects that this year’s deficit will be $897 billion — a 15.1 percent increase over last year’s imbalance of $779 billion. In the coming years, the CBO forecasts that the deficit will keep rising, top $1 trillion annually beginning in 2022 and never drop below $1 trillion through 2029. “ […]

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economics

Krugman | The Venezuela Calumny – The New York Times

Noticeably lacking in argumentum ad Venezuela, any reason why Venezuela is a better analogue than Canada or Western Europe. “Maybe you disagree with all these policy ideas. But if your first response, literally, is to scream “Venezuela,” you’re demonstrating both your unscrupulousness and your lack of any serious arguments for your position.” Source: Opinion | The […]

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economics Uncategorized

“Socialism” vs. “capitalism” is a false dichotomy

We need go-go capitalism to afford a generous welfare state, and people won’t support go-go capitalism without a safety net. “Socialists” and Republicans forget different parts of this lesson. “Socialism” vs. “capitalism” is a false dichotomy “We need go-go capitalism to afford a generous welfare state, and people won’t support go-go capitalism without a safety […]

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economics Uncategorized

Ride-sharing causes far more city traffic than it prevents: report

Uber and Lyft have long argued that they are a complement to mass transit, and that with the growth of their pooled-ride services they are reducing individual car use, congestion and pollution in this city and others. Not so, according to a report released Wednesday. via Ride-sharing causes far more city traffic than it prevents: […]

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economics Uncategorized

40 Economists Say The GOP Has Abandoned Economic Reality

A survey of forty economists from across the ideological and partisan spectrum has concluded that on some of its most cherished issues, the Republican Party has simply taken leave of economic reality. via 40 Economists Say The GOP Has Abandoned Economic Reality This is from 2012. It’s only gotten worse.