Links for the Week of July 24, 2017

Must-Reads:

Ryan Avent: Making Monetary Policy Great Again: "Obama’s response to the economic crisis... the timidity of his stimulus plan... his failure to provide broad support to struggling homeowners... his premature pivot to deficit cutting... http://democracyjournal.org/magazine/45/making-monetary-policy-great-again/
Timothy Garton Ash (2007): The Road from Danzig: "The offense is that [Guenter Grass] should for so many years have made it his stock-in-trade to denounce post-war West Germans’ failure to face up to the Nazi past... http://www.nybooks.com/articles/2007/08/16/the-road-from-danzig/
Anatole Kaletsky: A “Macroneconomic” Revolution?: "Given the abundance of useful ideas, why have so few of the policies that might have ameliorated economic conditions and alleviated public resentment been implemented since the crisis?... https://www.project-syndicate.org/commentary/replacement-market-fundamentalism-by-anatole-kaletsky-2017-07
Noah Smith (2011): Noahpinion: The liberty of local bullies: "I have not been surprised by any of the quotes that have recently come to light from Ron Paul's racist newsletters. I grew up in Texas, remember... http://noahpinionblog.blogspot.jp/2011/12/liberty-of-local-bullies.html
Mark Thoma: Here’s Why We’re Not Prepared for the Next Recession: "When will the next recession hit?... http://www.thefiscaltimes.com/Columns/2017/07/17/Here-s-Why-We-re-Not-Prepared-Next-Recession
Nick Bunker: Recessions, recoveries, and racial employment gaps in the United States: "The unemployment gap between black and white workers... can’t be explained by black Americans having lower levels of education or differences in demographics... http://equitablegrowth.org/equitablog/value-added/recessions-recoveries-and-racial-employment-gaps-in-the-united-states/
Maarten de Ridder and Coen Teulings: Endogenous growth and lack of recovery from the Global Crisis: "The crisis [is] a quasi-natural experiment to test the endogenous growth hypothesis... http://voxeu.org/article/endogenous-growth-and-lack-recovery-global-crisis
Adam Jentleson: @AJentleson on Twitter: "Having spent countless hours listening to McConnell & years working with his office, I'd like to offer a few thoughts on tonight's news... https://twitter.com/AJentleson/status/887147912999960579

Should-Reads:

Kenneth P. Brevoort, Daniel Grodzicki, and Martin Hackmann: Medicaid and Financial Health https://www.fdic.gov/news/conferences/consumersymposium/2016/documents/brevoort_presentation.pdf:
Joe Rago (2010): The ObamaCare Crossroads: "Once the health-care markets are put through Mr. Obama's de facto nationalization, costs will further explode... https://www.wsj.com/articles/SB10001424052748704207504575130321235660474
Nick Bunker: Weekend reading: “Boosting the competition” edition: "Since 2000 the concentration of businesses in the United States has increased and the amount of business investment relative to profits has declined... http://equitablegrowth.org/equitablog/weekend-reading-boosting-the-competition-edition/
Jonathan Baker: Market power in the U.S. economy today: "The U.S. economy has a 'market power' problem, notwithstanding our strong and extensive antitrust institutions... http://equitablegrowth.org/research-analysis/market-power-in-the-u-s-economy-today/
Doug Elmendorf et al.: Letter from Former CBO Directors on the Importance of CBO’s Role in the Legislative Process: "The undersigned represent every former Director of the Congressional Budget Office (CBO)... https://medium.com/@douglas.elmendorf/letter-from-former-cbo-directors-on-the-importance-of-cbos-role-in-the-legislative-process-278863b7e1c6
Pedro Nicolaci da Costa: Ex-Bank of England official says Fed has wrong idea on jobs, inflation: "The Fed's misleading view of the job market reflects 'a huge intellectual failure'... http://www.businessinsider.com/ex-bank-of-england-official-says-fed-has-wrong-idea-on-jobs-inflation-2017-7
Cosma Shalizi (2006): Accents, Heritability, Measured IQ, the Flynn Effect, and Intelligence: ">Q: Would you put on your right-thinking left-liberal educated-in-Berkeley-and-Madison hat for a moment?... http://delong.typepad.com/egregious_moderation/2007/07/cosma-shalizi-a.html
Christina Romer and David Romer (2009): Do Tax Cuts Starve the Beast? The Effect of Tax Changes on Government Spending: "The hypothesis that decreases in taxes reduce future government spending is often cited as a reason for cutting taxes... https://www.brookings.edu/bpea-articles/do-tax-cuts-starve-the-beast-the-effect-of-tax-changes-on-government-spending/
Nick Bunker: Is declining competition causing slow U.S. business investment growth?: "Germán Gutiérrez and Thomas Philippon... the divergence between investment and profits... employ a so-called natural experiment where the entrance of competition from China changed investment decisions... http://equitablegrowth.org/equitablog/value-added/is-declining-competition-causing-slow-u-s-business-investment-growth/
Christian Odendahl: The Hartz Myth: "Germany’s labour market and welfare reforms of the early 2000s have gained an outsized importance over time... http://www.cer.eu/sites/default/files/pbrief_german_labour_10.7.17.pdf
Ann Marie Marciarille: Those Pesky Pre-Dispute Arbitration Agreements for Skilled Nursing Facilities: "Assisting a parent or loved one in seeking skilled nursing facility admission is no joke... http://www.marciarille.com/2017/05/those-pesky-pre-dispute-arbitration-agreements-for-skilled-nursing-facilities.html
Jonathan Cohn, Paige Lavender, and Chris D’Angelo: Senate Republicans Just Killed Their Health Care Bill Again: "But it could come back in another form. Like a zombie...
Nancy Folbre: Why current definitions of family income are misleading, and why this matters for measures of inequality: "Researchers studying income distribution in the United States seem reluctant to acknowledge the family as an important unit of production and distribution... http://equitablegrowth.org/research-analysis/why-current-definitions-of-family-income-are-misleading-and-why-this-matters-for-measures-of-inequality/
Nick Bunker: Weekend reading: “Let’s make this post more democratically accountable” edition: "The newest set of releases in the Equitable Growth Working Paper series... http://equitablegrowth.org/equitablog/weekend-reading-lets-make-this-post-more-democratically-accountable-edition/
John Maynard Keynes (1924): Obituary for Alfred Marshall: "The study of economics does not seem to require any specialised gifts of an unusually high order... https://todayinsci.com/K/Keynes_John/KeynesJohn-Quotations.htm
Robert Caro: Means of Ascent: Carpetbaggers and Scalawags: [Richard Coke] a Confederate veteran who in 1873 wrested the government of Texas from the Carpetbaggeres and freed the state from the injustices of Reconstruction..." http://www.bradford-delong.com/2007/07/carpetbaggers-a.html
John Maynard Keynes (1938): On Tinbergen. To Harrod http://economia.unipv.it/harrod/edition/editionstuff/rfh.34a.htm: "My dear Roy...

Links:

Orazio Attanasio, Christopher D. Carroll, and José-Víctor Ríos-Rull: SI 2017 Consumption: Micro to Macro http://papers.nber.org/sched/SI17EFACR
Annie Lowrey: The Problem With Trump's Steel Tariffs: "Trump's widely-anticipated steel tariffs are likely to end up hurting the heartland..." https://www.theatlantic.com/business/archive/2017/07/made-in-america/534339/
Tim Worstall: Quantitative easing has outstayed its welcome - CapX: "Quantitative easing was a great idea and we’d be lost without it. But now QE has saved us, we’ll be lost if we don’t get rid of it..." https://capx.co/quantitative-easing-has-outstayed-its-welcome/
Brad Setser: Can the Fed and ECB Work Together To Reduce Imbalances?: "An ECB that tightens through rates and a Fed that relies on balance sheet roll off... would work together to... weaken the dollar and reduce the U.S. trade deficit and European surplus. That at least is how I read this paragraph in Brainard’s speech..." https://www.cfr.org/blog-post/can-fed-and-ecb-work-together-reduce-imbalances
Lael Brainard: Cross-Border Spillovers of Balance Sheet Normalization https://www.federalreserve.gov/newsevents/speech/brainard20170711a.htm
Senate Budget Committee Minority Staff: Background on BCRA Byrd Rule Decisions https://www.budget.senate.gov/imo/media/doc/Background%20on%20Byrd%20Rule%20decisions_7.21[1].pdf
Noah Smith: Redlining Never Went Away: "New research shows that discriminatory lending holds down housing values, hurting black wealth accumulation..." https://www.bloomberg.com/amp/view/articles/2017-07-19/redlining-never-went-away
Dylan Matthews: The 2 most popular critiques of basic income are both wrong: "Both the work critique and the cost critique, as cases against the idea of any sort of guaranteed cash grant, fail. They might be helpful critiques when designing the exact form a minimum income should take in the United States, but they leave the underlying concept unscathed..." https://www.vox.com/policy-and-politics/2017/7/20/15821560/basic-income-critiques-cost-work-negative-income-tax
Paige Lavender: Sean Spicer Resigns As White House Press Secretary: "His messaging often conflicted with Trump’s..." http://www.huffingtonpost.com/entry/sean-spicer-steps-down_us_58ed2e0ee4b0ca64d91a07c0?pn
2000: REVIEW OF GERHARD WEINBERG, A WORLD AT ARMS, AND OTHERS: "For some years now I have been looking for a good global history of World War II, both to serve as a reference for myself and to give to others who wish to know about that particular axis on which so much of twentieth century history turned. Until now I have always recommended William L. Shirer's The Rise and Fall of the Third Reich. Shirer's book has many excellences--but it has some flaws. And now I have found a proper replacement, in Gerhard Weinberg's A World at Arms...." http://www.bradford-delong.com/2000/12/review-of-gerhard-weinberg-a-world-at-arms-and-others.html
Josh Marshall (2002): "I really, really, really want to recommend a book to you. It's called Strange Victory: Hitler's Conquest of France and it's by Ernest R. May..." https://web.archive.org/web/20040209000732/http://talkingpointsmemo.com/archives/week_2002_05_12.html
Yochai Benkler*: Coase’s Penguin, or, Linux and The Nature of the Firm http://www.benkler.org/CoasesPenguin.PDF
Irenist: @1renist on Twitter: "So visiting Monticello the day after going to Rigoletto turns out to be an extremely depressing thing to do..." https://twitter.com/1renist/status/886399976053624832
Elizabeth Anderson: How bosses are (literally) like dictators: "Americans think they live in a democracy. But their workplaces are small tyrannies..." https://www.vox.com/the-big-idea/2017/7/17/15973478/bosses-dictators-workplace-rights-free-markets-unions
Jonathan Chait: Trumpcare Collapsed Because Republicans Cannot Govern: "In 2009, David Frum, the former Bush administration speechwriter whose ideological apostasy was in its formative stages, met with conservative intellectuals to discuss the policy response to the great recession. Faced with evidence that only massive government action—a financial rescue coupled with fiscal stimulus—could have prevented a complete economic meltdown, one conservative made a startling confession: 'Maybe it was a good thing we weren’t in power then—because our principles don’t allow us to respond to a crisis like this'..." http://nymag.com/daily/intelligencer/2017/07/trumpcare-collapsed-because-republicans-cannot-govern.html
David Frum (2009): Can Conservatives Govern?: "If your principles don’t allow you to save your country when it needs to be be saved, then there’s something wrong with those principles..." http://www.frumforum.com/can-conservatives-govern/
Matt Bruenig (2013): Hans-Hermann Hoppe, Libertarian Extraordinaire: "If only towns and villages could and would do what they did as a matter of course until well into the nineteenth century in Europe and the United States: to post signs regarding entrance requirements to the town, and once in town for entering specific pieces of property (no beggars, bums, or homeless, but also no Moslems, Hindus, Jews, Catholics, etc.); to expel as trespassers those who do not fulfill these requirements..." http://www.demos.org/blog/9/11/13/hans-hermann-hoppe-libertarian-extraordinaire
Matt Bruenig (2014): Hans-Hermann Hoppe, Libertarian Theoretical Historian: "Although feudal aristocracy is the natural and greatest form of libertarian governance, Hoppe makes sure to come clean that it hasn't always been perfect..." http://www.demos.org/blog/12/31/14/hans-hermann-hoppe-libertarian-theoretical-historian
Lecture Notes for September 13: After World War I: Weber and Keynes: Political Economy 101: "Modern" Political Economy http://delong.typepad.com/sdj/2007/09/lecture-notes-f.html?asset_id=6a00e551f08003883400e552211a228833
Neera Tanden and Topher Spiro: The bipartisan way to strengthen health care https://www.washingtonpost.com/opinions/the-bipartisan-way-to-strengthen-health-care/2017/07/18/b2e2b444-6bef-11e7-b9e2-2056e768a7e5_story.html
Equitable Growth: Explaining the “What is equitable growth?” essay series http://equitablegrowth.org/research-analysis/explaining-the-what-is-equitable-growth-essay-series/
2013: ?-Rated Economists Thursday Weblogging: Did James Buchanan Live in the Twentieth Century at All? http://www.bradford-delong.com/2013/04/did-james-buchanan-live-in-the-twentieth-century.html
Nancy MacLean https://history.duke.edu/people/nancy-maclean
Nancy MacLean: Book Excerpt: Democracy in Chains http://billmoyers.com/story/book-democracy-in-chains-far-right/
Ryan Avent: Making Monetary Policy Great Again : Democracy Journal http://democracyjournal.org/magazine/45/making-monetary-policy-great-again/
James Buchanan and Gordon Tullock: The Calculus of Consent http://delong.typepad.com/files/calculus-of-consent.pdf