I Want to Take a Virtual Course on the Public Sphere in the Age of Costless Electronic Reproduction. What Should I Read?
Debt Derangement Syndrome: Fresh at Project Syndicate

There is no merit-based case for David Malpass to run the World Bank. Ivanka would be a massively superior candidate: Dylan Matthews: David Malpass’s World Bank Nomination, Explained: "Malpass is... an infamously bad... forecaster.... Chief economist to Bear Stearns in 2007 and 2008 as the firm collapsed due to the subprime crisis. In August 2007... wrote a Wall Street Journal op-ed titled, 'Don’t Panic About the Credit Market'.... Undeterred, Malpass spent the Obama years calling for the Fed to adopt higher interest rates, and in 2012 even argued that maintaining low rates would lead to a recession. The Fed kept rates low, a recession didn’t ensue, and most economists credit the steady recovery to the Fed’s willingness to maintain rates near zero. If anything, it erred in not trying hard enough to push long-term interest rates down...


#noted

Comments