Monthly Archives: July 2014

Three’s a Crowd in NAFTA: Canada

Brad Delong, one of the creators of NAFTA is busy defending the failed agreement, basically defending Mexican economic growth. However, he never once mentions Canada, which signed onto the agreement. And I only say “failed” because NAFTA has been great … Continue reading

Posted in Labor, Macroeconomics, Public Policy | Leave a comment

Monopoly Power and Human Rights

The Daily Beast reports that Detroit cut off water to residents owing money while NOT cutting off businesses (including the state) that owe millions of more dollars. Detroit’s problem of cutting off a human right – water – is founded … Continue reading

Posted in Economics, Health, Political Economy, Politics, Poverty, Public Policy, Sociology | Leave a comment

The Marginalization of Labor

These are the marginally attached workers in America – all 8.5 Million of them. They have jobs, but only part time jobs when they want full time. Or they took the first job they could get. Or they want more … Continue reading

Posted in Economics, Labor, Socioeconomics, Sociology | Leave a comment

Measuring Slack in the Labor Market (Wonkish)

The job market is going to turn around; any day now, which should give the people waiting 5 years for a job some hope, even if delusional. I wrote earlier about how the Beveridge Curve, used to measure the overall … Continue reading

Posted in Economics, Labor, Macroeconomics, Statistics | Leave a comment

The Social and Economic Measurement of Nothing

We’re doing great! Each person in the United States is getting $49,700; any day now. But do 350 Million people really see $49,700? Of course not. Yet some are using this figure to show that inequality isn’t really an issue … Continue reading

Posted in Economics, Political Economy, Socioeconomics | Leave a comment

The Non-Existent Skills Mismatch: Blame the Victim

There’s some evidence to show that the unemployment rate has nothing to do with a skills mismatch and everything to do with companies doing a crappy job of hiring people for job openings, especially the long term unemployed. While the … Continue reading

Posted in Demographics, Economics, Labor | Leave a comment

Some Cold Water on the Beveridge Curve

Because economists can’t seem to measure much these days using their traditional macro models, someone decided to dig up, and dust off an old 1958 Model of the labor market called the Beveridge curve. It’s gotten a lot of attention … Continue reading

Posted in Economics, Labor, Macroeconomics, Socioeconomics, Wages | 1 Comment

Ignoring Natural Forces

There has been a lot of talk in the Fed about raising interest rates in the U.S. There’s one problem with that: the United Kingdom just did that with dire consequences, including increasing unemployment. Bloomberg is reporting that the U.K. … Continue reading

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The Shrinking Supply of Bazookas

Brad Delong brings up a great point; that we are due for another recession and the Fed has absolutely no ammunition left to fight it. Delong’s thesis was in response to a Twitter storm in Economist’s circles over Noah Smith’s … Continue reading

Posted in Economics, Macroeconomics | Leave a comment

Beware of False Profits

The June jobs report that sent the Dow to over 17,000 for the first time in history has a lot of hidden data that is typically ignored by Wall Street. A 17,000 Dow represents false profits and rents. First is … Continue reading

Posted in Economics, Labor, Poverty, Socioeconomics, Wages | Leave a comment