Self-Aggregation and Curation for August 18, 2014: Equity Prices, Secular Stagnation, Smackdowns, NAFTA, and Such...
Sent on Aug 18, 2014 at 08:34 pm http://tinyletter.com/braddelong/archive...
VoxEU has produced an eBook on secular stagnation. I review it. And I am coming round to the conclusion that this is a macroeconomic weakness that has plagued the global market economy in all times of trend deflation or low inflation since at least 1895, and perhaps 1865.
Robert Shiller writes about the mystery of high stock market elevations. I say the real mystery is why the average level of stock market valuations has been so low, given how attractive they are to patient capital and how much patient capital there ought to be.
The first good Brad DeLong Smackdown in months! Very welcome!! On adverse selection, and whether the health exchanges will in fact survive.
Talking Points Memo publishes a section of Rick Perlstein's excellent The Invisible Bridge on America 1973-76. And the press corps and the New York Times--yes, we are looking at you, Alexandra Alter--fails to cover itself with glory by playing opinions-of-shape-of-earth-differ journamalism rather than saying that bogus plagiarism allegations are bogus.
More on Making Sense of Friedrich A. von Hayek: A follow-up by me provoked by Lars Syll's sending me to Robert Solow's meditations; Milton Friedman, Friedrich Hayek, Augusto Pinochet, and Hu Jintao: Authoritarian Liberalism vs. Liberal Authoritarianism
I confuse myself about why Obama's CEA believes the work of recovery is mostly done. And then I take a look at the mancession and mancovery, and see signs--perhaps--of peak male.
Paul Krugman smacks me down for believing in the relative mental autonomy of even right-wing policy intellectuals.
And I respond by noting that Milton Friedman, Herb Stein, and Arthur Burns could overcome the elective affinity between their libertarian instincts and Goldbugist doctrines. So why--with notably rare exceptions--can't their successors do the same?
The 24-Year-Old Michael DeLong is campaign manager for Democrat Lianne Thompson in the mid-September CCC special election...
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