Grasping Reality on TypePad, by Brad DeLong

MOAR Must-Reads:

• Fred Bateman et al.: Did New Deal and World War II Public Capital Investments Facilitate a "Big Push" in the American South?: Abstract: The "big push" theory claims that publicly coordinated investment can break the cycle of poverty...
• Barry Ritholtz: How Fast is CEO Compensation Rising?: CEO compensation is growing faster than the wages of the top 0.1 percent...
• Michael Spence: Growth in a Time of Disruption: Developing countries are facing major obstacles...
• Michael D. Carr and Emily E. Wiemers: The decline in lifetime earnings mobility in the U.S.: Evidence from survey-linked administrative data: Abstract: There is a sizable literature that examines whether intergenerational mobility has declined as inequality has increased....
• Alisdair McKay and Ricardo Reis: Designing effective automatic stabilisers of the business cycle: Brexit has raised the possibility of a recession on both sides of the Atlantic....
• John Taylor (2000): Reassessing Discretionary Fiscal Policy: Recent changes in policy research and in policy-making call for a reassessment of countercyclical fiscal policy...
• Alex Tabarrok: Collective Property in Palo Alto: Kate Downing... [of] Palo Alto... has resigned in protest at its no-growth policies. She writes:
• Sanjeev Gupta et al. (2014): Fiscal Policy and Income Inequality: Fiscal policy is the primary tool for governments to affect income distribution....
• Steven J. Davis and Till M. von Wachter: Recessions and the Cost of Job Loss
• Matthew Yglesias: Why I Don’t Think It Makes Sense to Attribute Trump’s Support to Economic Anxiety: Trump genuinely differs in this regard from recent Republican Party presidential nominees...
• Matthew Kahn: ”Old School” Econ 101 for the New Generation of Economists: USC's fall term starts on August 22nd. I give my first "Econ 101" lecture to 150 students in 8 days...
• Adair Turner: Demystifying Monetary Finance: If the government cuts taxes, increases public expenditure, or distributes money directly to households, and if the central bank creates permanent new money to finance this stimulus, citizens’ nominal wealth will increase...
• Gavyn Davies: What Caused the Fed’s Dovish Turn?: The change in the Fed’s guidance about “normalisation”... came... [as] the dollar peaked (and equities collapsed) in February/March...
• Justin Fox: High-Tech Manufacturing Isn't Worth Much: These are the world's five largest technology companies, ranked by revenue...
• Justin Fox: High-Tech Manufacturing Isn't Worth Much: These are the world's five largest technology companies, ranked by revenue...
• Ben Friedman (2005): The Moral Consequences of Economic Growth: A persuasive, wide-ranging argument that economic growth provides far more than material benefits...
• Ezra Klein: The Media vs. Donald Trump: There is an idealistic and a cynical reason for automatic equivalence in political reporting...
• Martin Sandbu: Trump Supporters on the Couch: Economic anxiety can make voters more prone to racial resentment...
• Nick Bunker: Why Slightly higher Inflation Might Be a Benefit: The U.S. Federal Reserve Board hasn’t hit its stated inflation target of two percent in more than four years...
• Jesse Rothstein: The Economic Consequences of Denying Teachers Tenure: There’s just not actually a long list of people lining up to take the jobs...

MOAR Links:

• Angus Deaton (2011): What Does the Empirical Evidence Tell Us About the Injustice of Health Inequalities?
• Julia Belluz and Alvin Chang: What research on English dukes can teach us about why the rich live longer: Raj Chetty told me... [that] low-income individuals lived the longest (and had more healthy behaviors) in cities like New York and San Francisco with populations that are, on average, well educated, and high-income.... "The question is why health behaviors themselves vary so much among the low-income population--why poor Americans smoke more, eat more poorly, and exercise less in certain pockets of America..."
• Victoria Massie: Bill O'Reilly's jaw-dropping response to Michelle Obama: "Slaves were well-fed"
• Kevin Drum: Here Is My Idea to Make Fast Food Great Again: A burger is a burger.... However, the fries were all over the map.... So what we need is a place that specializes in fries and really does them right...
• Jacob Viner (1933): Balanced Deflation, Inflation, or More Depression
• James D. Hamilton: Why You Should Never Use the Hodrick-Prescott Filter
• Marshall Steinbaum: What Role for Antitrust in the Era of Rising Inequality? The Importance of Power in Supply Chains
• Krell
• Hopewell Culture
• Todd Gitlin: Interrupting Trump’s Strut Is Only a Start
• Annalee Newitz: Why does the Star Trek franchise keep returning to its origins?
• Edmund W. Kitch et al. (1983): The Fire of Truth: A Remembrance of Law and Economics at Chicago, 1932-1970: The Journal of Law & Economics 26:1 (Apr., 1983), pp. 163-234 http://www.jstor.org/stable/725189
• (1990): In Defense of Henry Simons’ Standing as a Classical Liberal
• (1999): The Triumph of Monetarism?:
• Macroeconomics, Fantasy, Reality, and Intellectual Utility...
• Janet Gornick and Heather Boushey: The Economics of Work-Life Conflict: Heather Boushey and Janet Gornick in Conversation
• Robbie Whelan in Stockholm and Esther Fung: China’s Factories Count on Robots as Workforce Shrinks
• Mark Palko and Andrew Gelman: How schools that obsess about standardized tests ruin them as measures of success
• Adam Ozimek: The Pro Wrestling Election
• Richard Florida: On Twitter: A riff on lack of demand...
• Michael J. Way et al.: Was Venus the First Habitable World of our Solar System?
• Paul Campos: Donald Trump's campaign is basically a RSS feed of Russian disinformation and white supremacist sites: This is not hyperbole.... Trump is... merely a symptom... there’s a good chance the GOP becomes an explicitly ethno-nationalist party before it either flies apart, or just sags like a heavy load into electoral oblivion...
• Todd Beamon: Koch Brothers Network Canceling Over $500K in Rubio Ads in Florida
• Timothy Shenk: The dark history of Donald Trump's rightwing revolt
• Brand New Congress
• Brian Buetler: Donald Trump Is a Terrible Politician
• Matthew Yglesias: Donald Trump just ditched his campaign manager because he’s a media celebrity, not a real businessman
• Claudia Sahm: Firms and Inequality: I agree with Adam Ozimek (aka Modeled Behavior) that the role of firms in rising income inequality is a Big Open Question. I've been lucky enough to see "Firming Up Inequality" by Song, Price, Guvenen, Bloom, and von Wachter presented twice in the past two years...
• (2000): Monetary Policy in a Low Inflation Environment
• Sarah Kliff and Ezra Klein: Public option? Status quo? Collapse? What comes next for Obamacare
• David Dayen: The Never-Ending Battle for Obamacare
• Daniel Dale: Trump's campaign chief identifies Nazi propagandist Leni Riefenstahl as a key influence
• David Crary: Ex-Baylor President Ken Starr resigns as law professor, severing ties as campus reels from sexual assault scandal Jonathan Karl: With Paul Manafort Gone, Who's Left to Run Donald Trump's Campaign?: With the resignation of campaign chairman Paul Manafort, the Trump campaign is now without a single senior figure who has ever run a campaign...
• "Masabacha" Hummus