Monthly Archives: July 2013

Whither “Centrism”?


Ezra Klein raises an excellent point – there is no “centrist” in US politics, anymore, and perhaps writers and pundits should stop self-aggrandizing themselves with such labels. Still, where did “centrism” go? And what was it? On the one hand, … Continue reading

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Feldstein’s Tunnel Vision


Martin Feldstein tries to explain low inflation despite a supposedly huge increase in the money supply by the FED. See: http://www.project-syndicate.org/commentary/the-inflationary-risk-of-us-commercial-bank-reserves-by-martin-feldstein The biggest error in Feldstein’s analysis can be seen here: The absence of significant inflation in the past few … Continue reading

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Do Economies Inherently Recover?


I made some comments on Noah Smith’s blog about wage flexibility but as I thought about it all and how to explain it to others, it occurred to me that, in response to Noah’s position (that an economy must automatically … Continue reading

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Economic Systems are Chaotic Systems


A comment I posted to Noah Smith’s Japan and the Liquidity Trap. In the end, Noah can’t accept that Japan is experiencing an understandable phenomenon because it has simply lasted too long. On one level, Noah is falling victim to … Continue reading

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The Leveraging Strategy: Understanding the trends of the past 30 years


I was trying to close out some browser tabs I’ve had sitting around waiting to be read and got to this one: http://slackwire.blogspot.com/2011/10/disgorge-cash.html I’m not sure what linked me to that item, but it’s a good one. Basically, the writer … Continue reading

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When Democracy Faces Functional Constraints


Paul Krugman gets pessimistic, noting that despite the intellectual collapse of austerity economics, there doesn’t seem to be any policy change anywhere on the horizon – and more importantly, there doesn’t seem to be a building public outrage for change. … Continue reading

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