Economics Roundtable

NOTICE 4/30/18

The Economics Roundtable is back. The technical problem that has limited the set of blogs has been resolved. The RSS feed is, however, still not working.

Flushing caches will likely cause some old posts to show up for a day or two.


Employment as a Percentage of Population

The graph below shows employment as a fraction of population for people over 16 years old.


Click on the image to get a bigger version.


March 2017 Payroll Employment

Payroll employment has not grown impressively since 2000. Some baby-boomers retired, but that does not totally account for this graph.

Click on the image to get a bigger version.


May 2014 Payroll Employment

After 76 months, we finally got back to the prerecession level of payroll employment.

Click on the image to get a bigger version.


Graph-of-the-Year Candidates

Donald Marron likes European interest rates. Click on the image to get a bigger version. Can you find three distinct subperiods?

Brad DeLong favors the U.S. gdp gap.


RSS Feed

- Recent Entries


August 21, 2018, 5:23 pm, 1892324

AEI
‘Why Socialism Failed: A 2018 Update,’ Part I

In 1995, I wrote an article titled “Why Socialism Failed” and it ...


August 21, 2018, 5:23 pm, 1892325

AEI
‘Why Socialism Failed: A 2018 Update,’ Part I

In 1995, I wrote an article titled “Why Socialism Failed” and it ...


August 21, 2018, 5:23 pm, 1892323

In 1995, I wrote an article titled “Why Socialism Failed” and it appeared in The Freeman, the flagship publication of the


August 21, 2018, 4:05 pm, 1892300
The NAR is scheduled to release Existing Home Sales for July at 10:00 AM tomorrow.

The consensus is for 5.43 million SAAR, up from 5.38 million in June. Housing economist Tom Lawler estimates the NAR will reports sales of 5.40 million SAAR for July and that inventory ...


August 21, 2018, 3:43 pm, 1892291
(Dan here…a little late posting,,,my fault) A graph for Sunday: 2012 Obama voters by 2016 vote  – by New Deal democrat This is a graph I’ve been meaning to comment on, that I saw on Vox.com a couple of weeks ago. It breaks down Obama voters from 2012 based on ...


August 21, 2018, 3:27 pm, 1892282

Ludwig von Mises's Nation, State, and Economy is a rationalist-utilitarian analysis of the three manifestations of German imperialism:

past German imperialism for the sake of national greatness,economic central planning in World War I (war socialism), which accelerated the introduction of full-blown socialism, andthe blossoming imperialism of the social democrats under ...


August 21, 2018, 3:27 pm, 1892281

Ludwig von Mises's Nation, State, and Economy is a rationalist-utilitarian analysis of the three manifestations of German imperialism:

past German imperialism for the sake of national greatness,economic central planning in World War I (war socialism), which accelerated the introduction of full-blown socialism, andthe blossoming imperialism of the social democrats under ...


August 21, 2018, 3:23 pm, 1892280

AEI
Quotation of the day the single most important organizing principle of the American Left ……

…. is from Kevin Williamson’s article in National Review “The Compulsory Society” on the debt of gratitude we owe to cranky dissidents such as Jack Phillips, the ...


August 21, 2018, 3:23 pm, 1892279

AEI
Bonus quotation of the day on Trump’s economically ruinous trade war…..

….. is from Brandon Arnold writing for Fox News ...


August 21, 2018, 3:03 pm, 1892271
Director of Economic Policy Michael Strain discusses the Federal Reserve's recent rate hikes and the reasoning behind their decision to raise rates.


August 21, 2018, 3:03 pm, 1892270

Rules and regulations by federal agencies, which many now call the administrative state, are quickly supplanting Congress as the principal source of the rules that American citizens and businesses have to obey. In the past 25 years alone, these agencies, which include executive branch agencies like the Justice Department, have ...


August 21, 2018, 3:03 pm, 1892269

Monday marked the day that Greece finally emerged from eight years of tutelage under an International Monetary Fund (IMF)-European Union economic adjustment program.

This is giving rise to celebrations in some official quarters in Europe that finally the euro crisis is over. As an example, Klaus Regling, the managing director of ...


August 21, 2018, 2:38 pm, 1892255

Diether W. Beuermann and C. Kirabo Jackson report:

Recent studies document that, in many cases, sought after schools do not improve student test scores. Three explanations are that (i) existing studies identify local average treatment effects that do not generalize to the average student, (ii) parents cannot ...


August 21, 2018, 2:35 pm, 1892254
Some more Fed Watch comments from Tim Duy: Bostic Throws Down the Gauntlet

Atlanta Federal Reserve President Raphael Bostic threw down the gauntlet today with a declaration to dissent any policy move that will invert the yield curve. He may get the chance to make good on that threat ...


August 21, 2018, 2:34 pm, 1892253

Abstract

Multi-year forecasts of bank performance under stressful economic conditions determine large institution regulatory capital requirements and yet the accuracy of these forecasts is undocumented. I compare the accuracies of alternative stress test model forecasts using the financial crisis as the stress scenario. Models include specifications that mimic the Federal Reserve ...


August 21, 2018, 1:49 pm, 1892235
A


August 21, 2018, 1:48 pm, 1892215

President Trump took time off from his seemingly endless rants about Special Counsel Robert Mueller’s investigation into Russian interference in the 2016 election to attack his own appointee as ...


August 21, 2018, 1:43 pm, 1892214


August 21, 2018, 12:38 pm, 1892165

August 21, 2018, 12:38 pm, 1892164

One of the most insidious ways politicians expand government is by creating new programs to “solve” problems created by politicians. For example, government interference in health care increased health care costs, making it difficult or even impossible for many to obtain affordable, quality care. The effects of these prior interventions ...


August 21, 2018, 12:38 pm, 1892163

President Trump’s trade war doesn’t seem to be going well. Corporations have already left the United States, and our agricultural sector is already beginning to feel economic strain. However, despite these and potentially more disastrous consequences, the president’s actions are still receiving widespread support, and the cry ...


August 21, 2018, 12:06 pm, 1892157

August 21, 2018, 11:50 am, 1892156
A


August 21, 2018, 11:43 am, 1892148

President Trump’s detractors see White House counsel Don McGahn’s cooperation with special counsel Robert Mueller as a breakthrough in Mr. Mueller’s investigation. From personal experience, I see it as further evidence that the president and his advisers have concluded Mr. Trump has done nothing wrong and has nothing to hide.


August 21, 2018, 11:03 am, 1892130
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.buffon { display: inline-block; text-align: center; vertical-align: middle; padding: 12px 24px; border: 1px solid #008bcc; ...


August 21, 2018, 10:34 am, 1892121

Education Next has just released its influential annual survey of American attitudes on schooling (full disclosure: I’m an executive editor of Education Next), and the results offer a window into our heated education debates. The most striking takeaway: while U.S. Secretary of Education Betsy DeVos has been derided as “extreme,” ...


August 21, 2018, 10:34 am, 1892122
Resident Fellow Marc Thiessen discusses the fallout after the Catholic church's sex abuse scandal surfaced.


August 21, 2018, 10:06 am, 1892113

Alan J. Krupnick, Joshua Linn, and Virginia McConnell:

In April, we wrote a blog post responding to the Trump administration’s announcement that it was preparing to weaken the fuel economy and greenhouse gas (GHG) standards hammered out in 2011 by the Obama administration. We argued then that although some things have changed ...


August 21, 2018, 10:04 am, 1892112

The troubling dropout rate across American colleges and universities is starting to get the attention it deserves. Earlier this year, always eager to mobilize the armies of social reform, the New York Times declared “a new dropout crisis.” As 2 million students drop out ...


August 21, 2018, 9:47 am, 1892105

Hedge funds, especially activist hedge funds, are established users of private-investigation services. Sometimes simply paying an investigator to go through publicly available information can yield valuable leverage in an investment. The hedge-fund investor Daniel Loeb, of Third Point, exposed misrepresentations on the résumé of Scott Thompson, the C.E.O. of ...


August 21, 2018, 9:43 am, 1892104

Watch the latest video at foxnews.com


August 21, 2018, 9:30 am, 1892103

by Andreas Hoffmann

George Selgin wrote a much-discussed post over at Alt-M. I agree with most of it.  However, I am puzzled by the following statement:

Austrian accounts of the money-creation process often exaggerate the ability of fractional reserve banks to create money “out of thin air,” even while ...


August 21, 2018, 9:23 am, 1892097
(Dan here…lifted from Roberts Stochastic Thoughts) Totally Twitty Fiskin of Antoine Levy Antoine Levy has some ideas about how the European Central Bank could help uncompetitive economies on the European perifery. I would like to read it and decide if he has good ideas. Unfortunately, to do so, I have ...


August 21, 2018, 9:23 am, 1892096
Weekly Indicators for August 13 – 17 at Seeking Alpha  – by New Deal democrat My Weekly Indicators post is up at Seeking Alpha. There were 4 long leading indicators that were on the cusp of changing. To see what happened, please  put a penny or two in my pocket by ...


August 21, 2018, 9:04 am, 1892082
In early 2015, I wrote about the possible relationship between Demographics, Unemployment Rate and Inflation. An excerpt (at that time the unemployment rate was at 5.7%):

If we look at the annual change in the prime working age population, there is one other period similar to the current situation ...


August 21, 2018, 9:04 am, 1892081
(Don Boudreaux)

Here’s a letter to a commenter – “XY” (male, I presume!) – at Mark Perry’s blog, Carpe ...


August 21, 2018, 9:03 am, 1892079


August 21, 2018, 9:03 am, 1892080
Industrial production cools a bit; retail sales continue strong Both industrial production and retail sales for July were reported this morning. Let’s take a look at both. First, industrial production increased m/m to another all time high (gray in the graph below), as did manufacturing (red): At the same time, ...


August 21, 2018, 8:39 am, 1892063

Good Morning! In today’s issue, we look at how an independent central banker has benefited Russian president Vladimir Putin, Trump’s criticism of his own central bank appointment, tariffs on China and a challenger to Japan’s Prime Minister Abe.

PRESIDENTS AND CENTRAL BANKS, RUSSIA EDITION

Why isn’t Russia experiencing an economic crisis? Like ...


August 21, 2018, 8:10 am, 1892062

It’s been nearly a decade since the nadir of the global financial crisis. Courtesy of a broad-based upswing for most of the years since, the big picture for picking up assets on the cheap is one of scarcity. In relative terms, bargains can be found, of course. Comparing stocks in ...


August 21, 2018, 7:27 am, 1892037

Paul Krugman has butchered numbers when writing about fiscal policy in nations such as FranceEstoniaGermany, and the United Kingdom.

Today, we’re going to peruse his writings on Denmark.

Here’s some of what he wrote earlier this month.

Denmark can teach us…about the possibilities of creating a decent society. …Denmark, where tax receipts ...


August 21, 2018, 7:27 am, 1892036

Paul Krugman has butchered numbers when writing about fiscal policy in nations such as FranceEstoniaGermany, and the United Kingdom.

Today, we’re going to peruse his writings on Denmark.

Here’s some of what he wrote earlier this month.

Denmark can teach us…about the possibilities of creating a decent society. …Denmark, where tax receipts ...


August 21, 2018, 7:24 am, 1892035
(Don Boudreaux)

… is from page 73 of Robert Lawson’s excellent paper “Economic Freedom in the ...


August 21, 2018, 6:09 am, 1892006

I assume this means that half is right. And in my opinion that's unexpectedly good for the federal government.

   


August 21, 2018, 6:09 am, 1892007

Deirdre McCloskey, singing the same song she's been singing for a long while now. But it's a good song.

The formula for an economy to get rich nowadays is as easy as H2O.

It is: Follow China and India. Containing four out of every ten humans, ...


August 21, 2018, 6:09 am, 1892005

In case you've missed it "the fallacy of the hot hand" now appears to be itself a fallacy.

   


August 21, 2018, 6:09 am, 1892004

Raleigh is #3. (We're starting to get the traffic commensurate with such a ranking.)

   


August 21, 2018, 6:04 am, 1892002

If one wants to capture Central Europe’s Zeitgeist in one image, it is hard to do better that the photo of Austria’s foreign minister Karin Kneissl, a nominee of the far-right Freedom Party, dancing with (and bowing to) Russian President Vladimir Putin at her wedding on Saturday.


August 21, 2018, 6:04 am, 1892001

Kudos to the Federal Trade Commission (FTC) for holding “Hearings on Competition and Consumer Protection in the 21st Century.” The questions the FTC is asking largely relate to how tech is disrupting established practices in antitrust and consumer protection. This comes at an important time.


August 21, 2018, 5:49 am, 1892000

US business leaders warn that more China sanctions will be painful: NY Times
New Russian hacking efforts targeting Senate, conservative think tanks: CNN
Malaysian prime minister cancels China-backed infrastructure projects: Reuters
Fed’s plan ...


August 21, 2018, 5:37 am, 1891994

A piece on the astonishing complexity of modern supply chains.

    


August 21, 2018, 5:08 am, 1891982

We've drilled down a bit deeper into the U.S. Census Bureau's data documenting the lifetime income trajectories that Americans have expect based on their level of education.

Previously, we looked just at those trajectories for all Americans with some work experience for ...


August 21, 2018, 3:09 am, 1891969

Photo Credit: michel D’anastasio

======================

In my view, these were my best posts written between November 2016 and January 2017:

When I was a Boy…

Can lessons from the distant past illumine the ...


August 21, 2018, 2:38 am, 1891961

If you are confused, here is background context.

The post How to revive North American manufacturing appeared first on Marginal REVOLUTION.


August 21, 2018, 12:38 am, 1891950

1. Jeju to Seoul

2. Melbourne to Sydney

3. Mumbai to Delhi

4. Fukuoka to Tokyo

5. Rio de Janeiro to Sao Paulo

6. Sapporo to Tokyo

7. LA to San Francisco

8. Brisbane to Sydney

9. Cape Town to Johannesburg

10. Beijing to Shanghai

Here is the source.  Via Henry Farrell.  It ...


August 20, 2018, 7:26 pm, 1891915

I have a new report out with the United State Studies Centre, State of confusion: How policy uncertainty harms international trade and investment.


August 20, 2018, 7:03 pm, 1891908

AEI
Quotation of the day on self-interest…..

….. is from Kevin Williamson’s National Review article “Elizabeth Warren’s Batty Plan to Nationalize . . . Everything“:

Senator Elizabeth Warren of Massachusetts has one-upped socialists Bernie Sanders and Alexandria Ocasio-Cortez: She proposes to nationalize every major business ...


August 20, 2018, 6:36 pm, 1891899
A


August 20, 2018, 5:44 pm, 1891864
Mortgage rates have mostly been moving sideways recently …

From Matthew Graham at Mortgage News Daily: Mortgage Rates Resisting a Move Lower

Mortgage rates were almost perfectly unchanged again today, meaning they haven't really changed in more than a week. All this despite a rather noticeable improvement ...


August 20, 2018, 5:23 pm, 1891855

Make no mistake, I’m a free speech hawk. Holocaust denial speech codes, so popular in Europe, are wrong. When Holocaust revisionists raise their heads, the best defense is to overwhelm with fact, not make them into martyrs of bureaucratic overreach. ...


August 20, 2018, 5:23 pm, 1891854

Make no mistake, I’m a free speech hawk. Holocaust denial speech codes, so popular in Europe, are wrong. When Holocaust revisionists raise their heads, the best defense is to overwhelm with fact, not make them into martyrs of bureaucratic overreach. ...


August 20, 2018, 4:05 pm, 1891839
(Don Boudreaux)

Here’s a letter to Peter Morici:

Prof. Peter Morici

Prof. Morici:

You repeatedly write – as ...


August 20, 2018, 3:43 pm, 1891827

One has to be dismayed about the insularity of U.S. economic policymaking in the age of Trump. This is particularly the case with respect to the emerging market economies, which now account for more than half of the world’s economic output and which have been the main engine of global ...


August 20, 2018, 3:07 pm, 1891802

These elegant pictures from Reuters illustrate the price of goods in Venezuela as the inflation rate hits 82,700 percent.

This one suggests some obvious substitutions.


August 20, 2018, 3:07 pm, 1891801

Colonel Lawrence Wilkerson, speaking at a Ron Paul Institute conference this past weekend, predicted US troops would remain in Afghanistan another 50 years-- just as they have in Germany and Korea. He also termed the ongoing US-backed campaign in Yemen the "most brutal war on earth," a war western media overwhelming ignore. 

Colonel Douglas Macgregor ...


August 20, 2018, 3:07 pm, 1891800

Liberty means to exercise human rights in any manner a person chooses so long as it does not interfere with the exercise of the rights of others. This means, above all else, keeping government out of our lives. Only this path leads to the unleashing of human energies that build ...


August 20, 2018, 1:27 pm, 1891749

Using a unique data set on the universe of assistant professor hires at top-50 economics departments from 1980-2005, we show that the adoption of gender-neutral tenure clock stopping policies substantially reduced female tenure rates while substantially increasing male tenure rates.

That is from Heather Antecol, Kelly Bedard, and 


August 20, 2018, 1:24 pm, 1891748
From HotelNewsNow.com: STR: US hotel results for week ending 11 August

The U.S. hotel industry reported positive year-over-year results in the three key performance metrics during the week of 5-11 August 2018, according to data from STR.

In comparison with the week of 6-12 August 2017, the industry ...


August 20, 2018, 1:24 pm, 1891747
From HotelNewsNow.com: STR: US hotel results for week ending 11 August

The U.S. hotel industry reported positive year-over-year results in the three key performance metrics during the week of 5-11 August 2018, according to data from STR.

In comparison with the week of 6-12 August 2017, the industry ...


August 20, 2018, 1:23 pm, 1891746

Theresa May is the world’s most underrated leader.

On its face, such a statement seems preposterous. Early on in her tenure as British prime minister, she committed a massive political blunder by calling an unnecessary election that ended up destroying the Tories’ majority in Parliament and reducing her ...


August 20, 2018, 1:07 pm, 1891739

August 20, 2018, 1:03 pm, 1891738

AEI
More optical illusions

I had a post a few weeks ago on CD featuring some optical illusions including the one ...


August 20, 2018, 1:03 pm, 1891736

Kofi Annan, United Nations secretary-general between 1997 and 2006, died on Saturday in Bern, Switzerland. Messages of sympathy after the loss of a high-profile public figure are understandable, but praise for Annan’s legacy is misplaced. Simply put, Annan’s U.N. tenure was marked by cravenness, corruption, and cover-ups.

He ...


August 20, 2018, 1:03 pm, 1891737

AEI
Last Week Tonight with John Oliver on Trump’s trade war

Recommended by Dartmouth economist Doug Irwin, who said on Twitter, “This whole segment is excellent, but the film starting at 19:40 is absolutely brilliant (take-off on Navarro’s Death by China).

From


August 20, 2018, 12:38 pm, 1891724

Recently, the Trump administration announced it would seek some $12 billion in subsidies to support the farmers hurt by the tariffs set by foreign countries as a consequence of the ongoing trade wars with China, the EU, and Canada, which, it seems, are not that ‘good, ...


August 20, 2018, 12:35 pm, 1891723
(Don Boudreaux)

Here’s a letter to yet another correspondent who says that he once was “for free trade” but ...


August 20, 2018, 11:44 am, 1891710

August 20, 2018, 11:24 am, 1891704
This is a key housing market to follow since Phoenix saw a large bubble / bust followed by strong investor buying.

The Arizona Regional Multiple Listing Service (ARMLS) reports ("Stats Report", table below):

1) Overall sales in July were up 6.7% year-over-year.

2)Active inventory is down ...


August 20, 2018, 11:23 am, 1891702



If you’ve ever wanted to publish a book, this Remnant is for you. If not, well . . . please still listen. This episode’s guest is Jonah’s literary agent Jay Mandel, ...


August 20, 2018, 11:23 am, 1891701



If you’ve ever wanted to publish a book, this Remnant is for you. If not, well . . . please still listen. This episode’s guest is Jonah’s literary agent Jay Mandel, ...


August 20, 2018, 11:03 am, 1891690

Political memoirs are rarely tear-jerkers, but Arne Duncan’s look back at his time as secretary of education under Barack Obama may make school reformers want to cry. It’s not so much that Mr. Duncan, who served from 2009 to 2015 after a stint as head of the Chicago public schools, ...


August 20, 2018, 10:38 am, 1891677

Jeffrey Herbener discusses the significant contributions of Frank Fetter (1863–1949) on the implications of the marginalist revolution. Fetter identified with not only the Austrian school but in particular the branch that developed Menger’s causal-realist approach to economics.

Fetter’s major achievement was to reform the Classical theory of income distribution to bring it into ...


August 20, 2018, 10:05 am, 1891662

I have just posted on the Social Science Research Network a forthcoming article called Corporate Bankruptcy Hybridity. Although the article has several intersecting objectives, today's post focuses on the first aim: conceptualizing corporate bankruptcy as a public-private partnership.  A public-private partnership, ...


August 20, 2018, 9:44 am, 1891655
(Don Boudreaux)

… is from page 570 of Douglas Irwin’s great 2017 volume, Clashing Over Commerce; ...


August 20, 2018, 9:23 am, 1891649

As India mourns Atal Bihari Vajpayee, the national outpouring of grief may dwarf even the august office he once held. Over the past fifty years, no prime minister who died of natural causes – not snatched by an assassin’s bomb or by bullets – has evoked as spontaneous and widespread ...


August 20, 2018, 9:23 am, 1891648

As India mourns Atal Bihari Vajpayee, the national outpouring of grief may dwarf even the august office he once held. Over the past fifty years, no prime minister who died of natural causes – not snatched by an assassin’s bomb or by bullets – has evoked as spontaneous and widespread ...


August 20, 2018, 9:23 am, 1891647

Over the past few days, there has been an almost 20 percent rebound in the Turkish lira from the all-time lows that it plumbed earlier in the week. It would be a mistake to think that this signals the end of the Turkish currency crisis.

More important yet, it would be ...


August 20, 2018, 9:23 am, 1891646

Over the past few days, there has been an almost 20 percent rebound in the Turkish lira from the all-time lows that it plumbed earlier in the week. It would be a mistake to think that this signals the end of the Turkish currency crisis.

More important yet, it would be ...


August 20, 2018, 9:23 am, 1891645

There will be a US-China meeting this week. It’s strange to call it a trade meeting when the American side will be represented by the Department of the Treasury, which has no trade authority.

The question nonetheless remains: Is Beijing willing to make an offer President Trump is willing to publicly ...


August 20, 2018, 9:23 am, 1891644

There will be a US-China meeting this week. It’s strange to call it a trade meeting when the American side will be represented by the Department of the Treasury, which has no trade authority.

The question nonetheless remains: Is Beijing willing to make an offer President Trump is willing to publicly ...


August 20, 2018, 8:39 am, 1891624

Good morning! Today we look at key trade meetings this week between the U.S. and China, the future of the Fed’s balance sheet, the surprising resilience of personal saving, and Venezuela’s deepening abyss.

THE U.S.-CHINA TRADE CONFLICT WILL GET WORSE …

Will the U.S. and China plunge into full-blown trade war or step back ...


August 20, 2018, 8:35 am, 1891623

In the aftermath of the Great Financial Crisis, debt has taken center stage. When borrowing is either high or growing quickly, people see it as a danger sign. When individuals, firms or governments are heavily indebted, they have less flexibility in responding to unfortunate events. And, when borrowers default, lenders ...


August 20, 2018, 8:35 am, 1891622
Last week an article misrepresented my writings on the Labor Force Participation Rate (not a big deal, this happens). But this gives me an excuse to post a few graphs and discuss the likely path of the labor force participation rate (LFPR) over time.

Back around 2010 and ...


August 20, 2018, 7:30 am, 1891601
A


August 20, 2018, 7:30 am, 1891600
A


August 20, 2018, 7:27 am, 1891586

Are cracks emerging in the Swedish welfare state?

Leftist experts routinely praise the country for its generous welfare state, and cast shame on countries in the Anglo sphere, such as the United States, for not adopting Nordic style welfare systems.

Although Scandinavian countries feature sizeable welfare states, they are far from socialist. ...


August 20, 2018, 7:09 am, 1891585

Securitized real estate securities in the US posted the strongest gain for the major asset classes last week, based on a set of exchange-traded products. During a week a mixed results for global markets overall, the strong advance in real estate investment trusts (REITs) is a conspicuous upside outlier.


August 20, 2018, 6:10 am, 1891572

This week’s US-China trade talks face challenges: CNBC
White house rejects Turkey’s offer for releasing pastor: WSJ
US Sec. of State cites possible ceasefire in Afghanistan: Politico
Taiwan president’s US visit angers China: ...


August 20, 2018, 6:08 am, 1891570

Especially important for those who think social science is the runaway winner for bitter disagreements.

What's kinda surprising is the intense name-calling and ad hominem attacks. But I have a theory about that which is probably not original but I don't remember where I saw it. Suppose someone says ...


August 20, 2018, 6:08 am, 1891569

Steven Greenhut presents a gem of an example.

This story is a reminder of how government “works.” It has many well-paid employees. (Los Angeles County fire captains and battalion chiefs can earn total compensation packages that top $600,000 a year. The median county and city firefighter compensation in ...


August 20, 2018, 6:04 am, 1891568

It is a good time to be a lawyer for AT&T.

On the heels of its antitrust victory over the Justice Department, the company received good news last week from out west. A California court dealt a major blow to the Federal Trade Commission’s (FTC) long-running deceptive advertising case against the ...


August 20, 2018, 5:50 am, 1891567

by Liya Palagashvili

About two weeks ago, City Council in New York City voted to ban ride-hailing services (Uber, Lyft, Via, Juno) from adding new drivers for a year—with the exception of wheelchair accessible vehicles. The main justification for this cap is that ride-hailing services have been leading to reductions ...


August 20, 2018, 5:48 am, 1891564

Nine words plus a heck of a list. I'm glad I don't live there.

   


August 20, 2018, 5:48 am, 1891563

Maddog of "Maddog's Lair" explained ("Mansplains"? Gasp!) to Emily Badger of the Washington Post why house prices in San Francisco are so high.

  


August 20, 2018, 5:48 am, 1891561

"Fastest" meaning "one-year change in per capita incomes in U.S. metro areas ". Four of the top ten are in Indiana. Coincidence, regression to the mean, Republican governors recently, or other things? 

 


August 20, 2018, 5:48 am, 1891562

Bad could very likely soon get worse.

    


August 20, 2018, 5:23 am, 1891559
“The national landscape in 2018 tilts in favor of Republicans with Republicans sitting on 208 safe seats, 10 seats away from a majority, and 22 additional and not projected seats leaning Republican(too close to call).” It would take Democrats casting 55% of the votes in a national two-party election to ...


August 20, 2018, 4:39 am, 1891551

The doldrums of summer are here, which perhaps explains why investor reaction to geopolitical news would seem to be the only thing really moving the needle for the S&P 500 in the third week of August 2018.

After last week's concerns over the risk ...


August 20, 2018, 1:27 am, 1891535

The vertigo starts, as upon arrival in the airport there are few direct clues as to which country you might be in.  You will see people from every part of this hemisphere, and furthermore the Azerbaijanis won’t stand out as such.  The facility itself looks like an average of ...


August 20, 2018, 1:27 am, 1891534

The vertigo starts, as upon arrival in the airport there are few direct clues as to which country you might be in.  You will see people from every part of this hemisphere, and furthermore the Azerbaijanis won’t stand out as such.  The facility itself looks like an average of ...


August 20, 2018, 1:07 am, 1891531

The prices at the Manheim auto auction have been better than usual lately, especially since President Donald Trump started pushing for new tariffs on imported vehicles, parts as well as the steel and aluminum used to make cars, said Jonathan Smoke, the chief economist of Cox Automotive. Cox runs ...