Links for the Week of November 20, 2016
Most-Recent Must-Reads:
- Larry Summers: A Badly Designed US Stimulus Will Only Hurt the Working Class (M)
- Jared Bernstein and Ben Spielberg: Preparing for the Next Recession: Lessons from the American Recovery and Reinvestment Act: "Moving forward... a stronger set of automatic stabilizers would help... (W)
- Martin Wolf: Donald Trump’s False Promises: "Fiscal loosening with monetary tightening would mean a stronger dollar and a rising current account deficit... (W)
- Paul Krugman (2015): Multipliers and Reality: "An exchange between Simon Wren-Lewis and Robert Waldmann... raises some interesting issues... (Th)
- Dave Wasserman: @ReDistrict: "Republicans appear to have won 55% of House seats w/ ~49% of the vote - a continuation of last few cycles." https://t.co/TtjnXcWhcX (F)
- Andreas Fagereng et al.: Heterogeneity and Persistence in Returns to Wealth: "Twenty years of population data from Norway’s administrative tax records [show]... (M)
Most-Recent Should-Reads:
- Duncan Black: Everybody Wants You: "I do think the upper class twits that rule Britain really do believe that the continent needs them (or thinks they do, effectively the same thing). They don't... (M)
- Simon Wren-Lewis: The Folly of Triggering Article 50: "Immediately after the Brexit vote, all the analysis I saw argued that Article 50 would not be triggered for some time... (M)
- Paul Krugman: Infrastructure Build or Privatization Scam?: "Trumpists are touting the idea of a big infrastructure build.... But remember who you’re dealing with... (Tu)
- Austin Frakt: Senator Lamar Alexander and Endless Can-Kicking Repeal: Senator Lamar Alexander understand how hard crafting health policy is... (Tu)
Most-Recent Links:
- Either central banks must be given the tools to stabilize the economy, or responsibility for stabilization policy needs to be shifted back so that fiscal authorities share it--in which case fiscal authorities need to step up their technocratic game: Stefan Gerlach: Sky-High Monetary Policy
- Michael Santoli: @michaelsantoli: "Non-financial stocks are up less than 1% since election [& financials up 10.6%]. But be sure to tell us again how 'everything's changed.'" https://twitter.com/hsilverb/status/799366135439388672
- Richard Baldwin: The Great Convergence: Information Technology and the New Globalization http://amzn.to/2g4GIpQ
- Kevin Drum: [Inflationary Pressure Is Yet Again Right Around the Corner ][]: "Inflation! It's always sneaking up on us..."
- Robert M. Citino: The German Way of War: From the Thirty Years' War to the Third Reich: http://amzn.to/2fayXxm
- Neville Morley: Political Economy and Classical Antiquity
- Heidi N. Moore: @moorehn: I am coming to believe that Trump cannot read.
- Matthew Yglesias: Not every congressional Democrat shares leadership’s desire to work with Trump: Rep. Ruben Gallego says “Donald Trump is not an ordinary politician.”
- Mohamed A. El-Erian: @elerianm: ICYMI, it didn't take long for the Bank of #Japan to react to higher yields - unlimited #bonds buying at fixed rates
- Matthew Yglesias: @mattyglesias: Is he saying his real liability for defrauding people was much more than $25 million?https://t.co/9iZ1Z4pyWY
- Matthew Yglesias: Congressional Democrats have nothing to fear from standing up to Trump, in one chart: He’s the least popular president-elect on record
- Matthew Yglesias: @mattyglesias: As long as I can remember white male left-of-center intellectuals have made complaints about "identity politics" part of their identity.
- Susan Dynarski: @dynarski: Stock price of U Phoenix at 52-wk high. Investors expect profits to rise at for-profits.
MOAR Should-Reads:
- Dan Wang: How Smartphones Made Shenzhen China's Innovation Capital: "The technological implications of smartphone technology go far beyond the smartphone itself... (M)
- (2015): Deciphering the fall and rise in the net capital share: "In the postwar era, developed economies have experienced two substantial trends in the net capital share of aggregate income... (M)
- Ed Luce: The Perilous Taming of Donald Trump: "Two dangers fac[e]... any populist who manages to get elected... (Tu)
- Barry Eichengreen: Asia Needs to Spell Out Changes They Want in International Monetary System: "China and Asia need an international monetary system that is stable... (Tu)
- Daniel W. Drezner: @dandrezner: "Hey, @wikileaks, why did you delete this tweet?" (Tu)
- Dietz Vollrath: Labor’s Share, Profits, and the Productivity Slowdown: "There’s been a slowdown in measured productivity growth... since about 2000... (W)
- Mehreen Khan: Carney: world at risk of low rate ‘trap’ for decades: "The world economy risks being stuck in a low interest rate “trap” for decades without efforts to boost growth through structural reforms... (W)
- Noah Smith: Peak Finance Looks Like It's Over: "How much of the financial industry will soon be obsolete?... (W)
- Brad Plumer: Donald Trump's Infrastructure Plan Wouldn't Actually Fix America's Infrastructure Problems: "Donald Trump loves the idea of infrastructure... wants to make an infrastructure bill a priority in his first 100 days... (Th)
- Ann Pettifor: @annpettifor: "Read this for an explanation of George Osborne: https://t.co/UW0Tbo4BX9 (Th)
- Ben Thompson: Fake News: "Between 2001 and 2003, Judith Miller wrote a number of pieces in the New York Times asserting that Iraq had the capability and the ambition to produce weapons of mass destruction... (F)
- PIIE: Conference on Income Inequality and Inclusive Growth (F)
- Should-Read: Aaron Carroll: Will “Repeal and Delay” Be the Next “Doc Fix”?: "I’m seeing a lot of chatter on how one thing Republicans can do in January is 'Repeal and Delay'... (F)
- Duncan Weldon: Negative Yields, the Euthanasia of the Rentier, and Political Economy: "I understand the mechanics of engine that took us here but not what the driver was thinking... (M)
MOAR Links:
- Madcap Mongoose: Brad DeLong Quote On Limits of MMT (Functional Finance)--Your Thoughts?
- Art Goldhammer: Marx as Educator: "What worries me about this turn is not the effort wasted on Marx’s more useless ideas, such as the labor theory of value. It is rather how his 'othering' of political opponents influences the political attitudes of his young followers..."
- Memset: Free Tools and Services
- Neville Morley: Brexit Paradoxes 2
- Cato and Varro: Roman Farm Management: The Treatises of Cato and Varro
- Julian Schwinger: Einstein's Legacy: The Unity of Space and Time: http://amzn.to/2fRbOC5
- Richard Baldwin: The Great Convergence: Information Technology and the New Globalization
- PIIE: The Great Convergence: Information Technology and the New Globalization
- Charles Torre: The Kepler Problem: "I won’t ask you to check that this is a Lagrangian symmetry. Try it only if you feel strong..."
- Twitter: Advanced Muting Options
- Paul Krugman: [The Gridlock Economy - The New York Times][]
- Eric Rauchway: On the national and international causes of Trumpism
- Jeffrey J. Schott: TPP Could Go Forward without the United States:
- David Leask: Beyond Brexit: Scottish passport plan could allow Scots to keep working and living in Europe
- Benedict Anderson (1983): Imagined Communities: Reflections on the Origin and Spread of Nationalism http://amzn.to/2fYVq1e
- Ernest Gellner (1983): Nations and Nationalism http://amzn.to/2fYUg62
- Jonathan Woetzel: Closing California’s Housing Gap
- Barry Eichengeeen: Three ways to make sense of the dollar in uncertain times: Haven status and policies will determine prospects for the economy and currency
- Josh Marshall: We've put together a preliminary list of where members of Congress stand on Paul Ryan's plan to phase out Medicare and replace it with vouchers for private insurance
- Thomas Piketty: We must rethink globalization, or Trumpism will prevail:
