George W. Bush on Sarah Palin and John McCain
Coffee Blogging: What John Quiggin Said

links for 2009-09-16

  • Lucas: The problem that the new theories, the theories embedded in general equilibrium dynamics of the sort that we know how to use pretty well now — there’s a residue of things they don’t let us think about. They don’t let us think about the U.S. experience in the 1930’s or about financial crises and their real consequences in Asian and Latin America; they don’t let us think very well about Japan in the 1990’s...
  • In this land of inherited privilege and celebrity billionaires, it no longer pays as much to be rich. Hobbled by soaring debt and ballooning public spending amid the global financial crisis, the British government is joining others around the globe in tapping the wealthy to cover massive shortfalls. As a result, the tax rate here for those making more than $250,000 a year is set to jump from 40 to 50 percent, leaving the likes of Charlie Mullins -- the self-made king of London plumbing -- fuming. He estimates that the new bill on his $2.5 million annual income, with exemptions, will jump by no less than $236,000.
  • What an extraordinary episode in the economic progress of man that age was which came to an end in August, 1914! The greater part of the population, it is true, worked hard and lived at a low standard of comfort, yet were, to all appearances, reasonably contented with this lot. But escape was possible, for any man of capacity or character at all exceeding the average, into the middle and upper classes, for whom life offered, at a low cost and with the least trouble, conveniences, comforts, and amenities beyond the compass of the richest and most powerful monarchs of other ages. The inhabitant of London could order by telephone, sipping his morning tea in bed, the various products of the whole earth, in such quantity as he might see fit, and reasonably expect their early delivery upon his doorstep; he could at the same moment and by the same means adventure his wealth in the natural resources and new enterprises of any quarter of the world, and share, without exertion or even trouble...
  • Download now or preview on posterous 20090915 115.pdf (92 KB) ...

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