Politics Roundtable

Politics Roundtable

Political blogs of interest to economists.

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November 21, 2018, 12:05 am, 1922956

Across the Wide Missouri: FiveThirtyEight's ultimate Thanksgiving dinner menu is: Tofurky... Frog eye salad... Jell-O salad... Yorkshire pudding... Snickers salad: Walt Hickey*: The Ultimate Thanksgiving Dinner Menu


November 20, 2018, 9:09 pm, 1922930
(Paul Mirengoff)

Jamal Khashoggi the myth is the guy we read about in the Washington Post — fearless democrat, opponent of tyranny. Jamal Khashoggi the man is more like the guy Joseph Duggan writes about in American Greatness — a charming, cynical Saudi power player for whom ...


November 20, 2018, 9:09 pm, 1922929
(John Hinderaker)

I will be filling in for Laura Ingraham on her radio show tomorrow. The program runs live from 9:00 a.m. to 12 p.m. Eastern, and is heard at other times in some markets. We are still assembling the guest list, but the economy and the caravan will be ...


November 20, 2018, 9:09 pm, 1922928
(Paul Mirengoff)

President Trump today announced that, notwithstanding the murder of Jamal Khashoggi, “the United States intends to remain a steadfast partner of Saudi Arabia to ensure the interests of our country, Israel and all other partners in the region.” The essence of Trump’s explanation for the ...


November 20, 2018, 7:24 pm, 1922911

This from eight years ago is still the best thing I have seen about "sustainability" and its proper role in economic analysis: Kenneth J. Arrow, Partha Dasgupta, Lawrence H. Goulder, Kevin J. Mumford, and Kirsten Oleson (2010): Sustainability and the Measurement of Wealth: "We develop ...


November 20, 2018, 7:24 pm, 1922912

This from eight years ago is still the best thing I have seen about "sustainability" and its proper role in economic analysis: Kenneth J. Arrow, Partha Dasgupta, Lawrence H. Goulder, Kevin J. Mumford, and Kirsten Oleson (2010): Sustainability and the Measurement of Wealth: "We develop ...


November 20, 2018, 7:24 pm, 1922910

It may finally be the time that we get some traction on better measures of economic growth and prosperity than GDP. So go back and reread this from 290016: homas Piketty, Emmanuel Saez, and Gabriel Zucman: Distributional national accounts: Methods and estimates for the United ...


November 20, 2018, 7:24 pm, 1922909

It may finally be the time that we get some traction on better measures of economic growth and prosperity than GDP. So go back and reread this from 290016: homas Piketty, Emmanuel Saez, and Gabriel Zucman: Distributional national accounts: Methods and estimates for the United ...


November 20, 2018, 7:24 pm, 1922908

Equitable Growth's Will McGrew makes a good catch here, and direct us to Brendan Greely: Will McGrew: Weekend Reading: “Monopsony and Mobility” Edition: "Brendan Greely of the Financial Times dives into another aspect of the mobility divide: social capital. Using frequent Equitable Growth guest authors ...


November 20, 2018, 7:24 pm, 1922907

Equitable Growth's Will McGrew makes a good catch here, and direct us to Brendan Greely: Will McGrew: Weekend Reading: “Monopsony and Mobility” Edition: "Brendan Greely of the Financial Times dives into another aspect of the mobility divide: social capital. Using frequent Equitable Growth guest authors ...


November 20, 2018, 7:24 pm, 1922903

Another very good "Equitable Growth in Conversation" piece: Ioana Marinescu, Herbert Hovenkamp, Kate Bahn, and Michael Kades. In modern antitrust policy, the monopoly and the monopsony analyses need to proceed on two separate tracks: Equitable Growth: In conversation with Herbert Hovenkamp and Ioana Marinescu: "You ...


November 20, 2018, 7:24 pm, 1922902

Seth Godin: Throat-Clearing: "Begin in the middle. The first paragraph, where you lay out what's about to happen. The half-apology you use to preface your comments at the meeting. The email that takes a paragraph or two to get to the point…. You can skip ...


November 20, 2018, 7:24 pm, 1922904

Another very good "Equitable Growth in Conversation" piece: Ioana Marinescu, Herbert Hovenkamp, Kate Bahn, and Michael Kades. In modern antitrust policy, the monopoly and the monopsony analyses need to proceed on two separate tracks: Equitable Growth: In conversation with Herbert Hovenkamp and Ioana Marinescu: "You ...


November 20, 2018, 7:24 pm, 1922906

Getting deeply into the weeds on whether much observed social mobility is actually error in measuring "true status". The answer ape to be "no": Martin Nybom and Kelly Vosters: Intergenerational Transmission of Socioeconomic Status: "There is no simple law of mobility: In 2014, Gregory ...


November 20, 2018, 7:24 pm, 1922901

Seth Godin: Throat-Clearing: "Begin in the middle. The first paragraph, where you lay out what's about to happen. The half-apology you use to preface your comments at the meeting. The email that takes a paragraph or two to get to the point…. You can skip ...


November 20, 2018, 7:24 pm, 1922905

Getting deeply into the weeds on whether much observed social mobility is actually error in measuring "true status". The answer ape to be "no": Martin Nybom and Kelly Vosters: Intergenerational Transmission of Socioeconomic Status: "There is no simple law of mobility: In 2014, Gregory ...


November 20, 2018, 7:24 pm, 1922900

I would find the wise and public-spirited Ricardo Haussmann more convincing here if he'd had an explanation for why mandated wage compression by John Dunlop in the U.S. during World War II was not a huge success: Ricardo Hausmann: How Not to Fight Income Inequality: ...


November 20, 2018, 7:24 pm, 1922895

175 years ago Friedrich Engels put his finger on the major flaw in economics that Paul Romer has tried to repair over his career: Friedrich Engels (1843): Outlines of a Critique of Political Economy: "According to the economists, the production costs of a commodity consist ...


November 20, 2018, 7:24 pm, 1922897

I highlighted this two years ago. I am highlighting it again, as I think it has not received the attention it deserves. Ernest Liu: Industrial Policies in Production Networks: "Many developing countries adopt industrial policies favoring selected sectors. Is there an economic logic to this ...


November 20, 2018, 7:24 pm, 1922896

175 years ago Friedrich Engels put his finger on the major flaw in economics that Paul Romer has tried to repair over his career: Friedrich Engels (1843): Outlines of a Critique of Political Economy: "According to the economists, the production costs of a commodity consist ...


November 20, 2018, 7:24 pm, 1922898

I highlighted this two years ago. I am highlighting it again, as I think it has not received the attention it deserves. Ernest Liu: Industrial Policies in Production Networks: "Many developing countries adopt industrial policies favoring selected sectors. Is there an economic logic to this ...


November 20, 2018, 7:24 pm, 1922899

I would find the wise and public-spirited Ricardo Haussmann more convincing here if he'd had an explanation for why mandated wage compression by John Dunlop in the U.S. during World War II was not a huge success: Ricardo Hausmann: How Not to Fight Income Inequality: ...


November 20, 2018, 5:09 pm, 1922867
(Steven Hayward)

Years ago a friend who signed on with a large prestigious law firm recounted how one of his first orientation sessions was “sensitivity training” (the precursor to “diversity” workshops today) with regard to ethnicity and sexual orientation. Back in those innocent days it consisted largely in an inventory ...


November 20, 2018, 1:24 pm, 1922775

I really do not know who the audience for this is supposed to be. Addressing the Trump Administration is a pointless waste of time. And this is not written to give Nancy Pelosi, Mitch McConnell, Kevin McCarthy, and Chuck Schumer ideas as to how they can constrain Trumpets ...


November 20, 2018, 1:24 pm, 1922774

I really do not know who the audience for this is supposed to be. Addressing the Trump Administration is a pointless waste of time. And this is not written to give Nancy Pelosi, Mitch McConnell, Kevin McCarthy, and Chuck Schumer ideas as to how they can constrain Trumpets ...


November 20, 2018, 1:24 pm, 1922772

Brilliant, as usual from Costa Shalizi: Cosma Shalizi: Alien Failure Modes of Machine Learning: "They have such alien failure-modes, and... don't have the sort of flexibility we're used to from humans or other animals. They generalize to more data from their training environment, but not ...


November 20, 2018, 1:24 pm, 1922771

Dan Davies on financial fraud is certainly the most entertaining book on Economics I have read this year. Highly recommend itcold Chris Dillow: Review of Dan Davies: Lying for Money: "Squalid crude affairs committed mostly by inadequates. This is a message of Dan Davies’ history ...


November 20, 2018, 1:24 pm, 1922773

Brilliant, as usual from Costa Shalizi: Cosma Shalizi: Alien Failure Modes of Machine Learning: "They have such alien failure-modes, and... don't have the sort of flexibility we're used to from humans or other animals. They generalize to more data from their training environment, but not ...


November 20, 2018, 1:24 pm, 1922770

Dan Davies on financial fraud is certainly the most entertaining book on Economics I have read this year. Highly recommend itcold Chris Dillow: Review of Dan Davies: Lying for Money: "Squalid crude affairs committed mostly by inadequates. This is a message of Dan Davies’ history ...


November 20, 2018, 1:24 pm, 1922768

One might, naively, think that the economies of scale that companies like Wal-Mart possess should redound to the benefit of workers as well as consumers. More efficiencies from economies of scale should leave a bigger pie for everyone else, which would be shared, right? Apparently not. When a ...


November 20, 2018, 1:24 pm, 1922769

One might, naively, think that the economies of scale that companies like Wal-Mart possess should redound to the benefit of workers as well as consumers. More efficiencies from economies of scale should leave a bigger pie for everyone else, which would be shared, right? Apparently not. When a ...


November 20, 2018, 1:09 pm, 1922749
(Scott Johnson)

In the case of St. Paul Chipotle thief Masud Ali and his friends we see an extension of the culture of victimization. Ali and friends turned up this past Thursday at the Chipotle on Grand Avenue, in one of St. Paul’s nicest neighborhoods. Recognized by store ...


November 20, 2018, 1:09 pm, 1922747
(Steven Hayward)

I haven’t seen the new biopic about Freddie Mercury and Queen, but from the reviews and such it looks pretty good. But in the meantime, some enterprising YouTubers who go by the name of Dustin and Genevieve have produced this “Bohemian Rhapsody” knockoff for the age of anti-social ...


November 20, 2018, 1:09 pm, 1922748
(Paul Mirengoff)

Yesterday, I wrote about President Trump’s support for what Sen. Tom Cotton calls jailbreak legislation. That legislation, known as FIRST STEP, enables the early release from federal prison of most categories of federal felons and sets lower mandatory minimum sentences for many federal drug felons. ...


November 20, 2018, 1:04 pm, 1922742

November 20, 2018, 1:04 pm, 1922745

My read of the evidence is somewhat different here: my view is that forward guidance did something, but quantitative easing did very, very little. And the idea that quantitative easing made forward guidance more credible? I do not see that. Yes, quantitative easing was a big deal for ...


November 20, 2018, 1:04 pm, 1922744

The most important thing for you to read: the deadline for Equitable Growth's next set of grant proposals over at Equitable Growth is January 31, 2019: WCEG: Request for Proposals: "The Washington Center for Equitable Growth seeks to deepen our understanding of whether and how ...


November 20, 2018, 1:04 pm, 1922743

Applause from Noah Smith for Equitable Growth's attempt to focus on the broader implications of rising monopoly: Noah Smith: Economists Gear Up to Challenge the Monopolies: "The antitrust movement is making a comeback.... Think tanks like the Washington Center for Equitable Growth are starting to ...


November 20, 2018, 5:49 am, 1922532
(Steven Hayward)

I was reading an old lecture on Aristophanes by Leo Strauss when I came across these very useable sentences:

When about to enter a place at at which we are meant to laugh and to enjoy ourselves, we must first cross a picket line of black-coated ushers exuding deadly ...


November 20, 2018, 1:09 am, 1922480
(Paul Mirengoff)

Last week, I had the honor of attending the swearing-in of Jeff Clark as Assistant Attorney General for the Environment and Natural Resources Division (ENRD) of the Justice Department. Jeff was sworn in by Judge Danny Boggs for whom he clerked. Matthew Whitaker and Ron Rosenstein ...


November 20, 2018, 1:09 am, 1922481
(John Hinderaker)

As everyone knows, wildfires have burned out of control in both northern and southern California. Some have been killed and many more are missing. The fires are a human tragedy, one that seems to have become more common in California in recent years. Liberals, predictably, have blamed global ...


November 20, 2018, 1:09 am, 1922479
(Steven Hayward)

Now that was some kind of football game, so long as you think defense is nearly an afterthought in the NFL these days. I Tweeted in the 4th quarter that we ought to just call tonight’s Rams-Chiefs game the Super Bowl and skip the postseason this year.

But for ...