Secular Stagnation and Social Security

By: Sunday November 24, 2013 10:30 am

It would be easy to finance a big increase in Social Security by applying FICA taxes to income over $750K for Human Persons, and $10 million for Corporate Persons, Endowments, Trusts and other forms of hiding wealth.

 

The Three Great Premises of Idiot America Take Center Stage

By: Saturday September 28, 2013 11:30 am

These are good times for those who practice wingnuttery and those who observe them, as there is plenty of wingnuttery on display. Sadly, this exacts a cost, either in the idiotic policies and practices foisted upon society (see almost anything enacted at the urging of the NRA), or in the time and energy that must be wasted to beat back these idiocies (see Krugman, Paul “the Shrill One”). No, popcorn is not an option. It’s no surprise, then, that my thoughts have been turning to Charles Pierce.

Yours should too.

The Employer Mandate Is Not a Minor Add-on

By: Monday August 19, 2013 8:35 am

Since the Obama administration decided to delay the employer mandate I have noticed a disturbing trend where the defenders of the Affordable Care Act (ACA) are aggressively downplaying the role of the employer mandate. The latest example is Paul Krugman calling it “minor.”

Consensus Emerging With Economists That U.S. Economy Based On Rents Not Production

By: Friday June 21, 2013 9:15 am

Karl Marx may have been too optimistic about capitalism. Economist Michel Hudson has long claimed that Marx’s contention that ultimately industrial capitalism would triumph over finance capitalism was wrong. That, in fact, bankers have prevailed subjugating the productive forces of industry to the power of debt slavery and rentier capitalism. The real economy has been subsumed by the FIRE economy.

Government by Platitude

By: Sunday May 19, 2013 9:00 am

A society where knowledge is irrelevant, replaced by focus-group tested slogans and canned talking points created by and for a bunch of rich people isn’t a democracy.

Fallout Continues From Discovery of Major Flaws in Key Austerity Paper

By: Friday April 26, 2013 11:15 am

Academia remains incredulous as evidence accumulates that the Reinhart-Rogoff paper that underwrote much of the intellectual justification for austerity economics omitted important data and contained severe Excel errors. Some are calling it a technical knockout of austerity economics, handing victory to the anti-austerity faction of economists.

The Savings Glut Explanation: Why It Might Be Wrong and Why It Matters

By: Sunday March 3, 2013 11:00 am

The official explanations of the causes of the Great Crash are useful to the hyper-rich. More nuanced descriptions aren’t.

Joe Scarborough’s Attack on Stimulus

By: Friday February 1, 2013 6:52 am

Most people know that the deficit whiners live largely in a fact free zone, but every now and then it is worth trying to throw a few in their direction in the quest for intelligent life. The immediate motivation is Joe Scarborough’s latest tirade after having Paul Krugman as a guest on his show.

Krugman versus Stiglitz on Inequality and Economic Growth

By: Monday January 21, 2013 11:05 am

Joe Stiglitz had an Opionator piece in the NYT arguing that inequality was bad for growth. Krugman responded by taking issue with a couple of the points raised by Stiglitz: that upward redistribution of income leads to fiscal problems and that upward redistribution of income leads to stagnation.

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