Politics Roundtable

Politics Roundtable

Political blogs of interest to economists.

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June 26, 2017, 8:18 pm, 1758597
(John Hinderaker)

The Free Beacon has an interesting story, based on interviews of unnamed Trump administration officials, about the Obama minions, some still embedded in the bureaucracy, who are leaking furiously to the Washington Post and the New York Times:

A new wave of leaks targeting the Trump administration has ...


June 26, 2017, 6:18 pm, 1758574
(Steven Hayward)

Well not quite gravity, but close enough for post-modernist work. You know how liberals like to attach taxes on cigarettes so we’ll buy fewer of them, and on alcohol so we’ll drink less, etc? Funny, though, how the basic lesson of supply and demand and price sensitivity falls ...


June 26, 2017, 4:18 pm, 1758534
(Scott Johnson)

Reading the Supreme Court’s per curiam (unsigned) opinion in the Trump v. IRAP (Fourth Circuit) and Trump v. Hawaii (Ninth Circuit) “travel ban” cases today, I was struck by this. The Court unanimously stayed most of the injunctive relief granted by the lower courts in the ...


June 26, 2017, 4:18 pm, 1758532

Should-Read: Diane Coyle: Economics in Transition: The End of Theory: "There has been a huge shift away from the reductionism of an older generation... to which Bookstaber has paid little attention... https://www.project-syndicate.org/onpoint/economic
s-in-transition-by-diane-coyle-2017-06

...His critique is partly valid.... Macroeconomic models in wide ...


June 26, 2017, 4:18 pm, 1758533

Should-Read: Lane Kenworthy and Ive Marx: In-Work Poverty in the United States: "In-work poverty became a prominent policy issue in the United States... http://ftp.iza.org/dp10638.pdf

...long before the term itself acquired any meaning and relevance in other industrialized countries. With America’s embrace ...


June 26, 2017, 4:18 pm, 1758531

We have sent our letter, and Sarah Kliff is on it!

Sarah Kliff: 6 Nobel Prize–winning economists announce opposition to Senate health bill: "Forty economists, including six Nobel laureates, ...


June 26, 2017, 2:18 pm, 1758487
(John Hinderaker)

The Associated Press gives us good news about Justice Neil Gorsuch’s tenure on the Supreme Court so far, but can’t resist smearing Justice Clarence Thomas along the way. First the good news:

To see where Justice Neil Gorsuch might fit on the Supreme Court, watch the company he ...


June 26, 2017, 2:18 pm, 1758486
(Paul Mirengoff)

Yuval Levin takes a close look at the Senate health care bill. He agrees with those of us who don’t consider it a repeal of Obamacare, Rather, like the House bill, the Senate version “addresses discrete problems with Obamacare within the framework it created, ...


June 26, 2017, 2:18 pm, 1758485
(Scott Johnson)

Researching the constitutionality of the regime of administrative law, I came across a notice early in 2014 that Philip Hamburger’s Is Administrative Law Unlawful? was forthcoming in hardcover from the University of Chicago Press (it’s now available in paperback).

“The audacity of hope” had nothing on ...


June 26, 2017, 2:18 pm, 1758484
(Paul Mirengoff)

A lot went down this morning at the Supreme Court, as was to be expected considering that this was the last day of the Court’s term. First, the Court decided to allow a limited version of President Trump’s already limited ban on travelers from six ...


June 26, 2017, 2:18 pm, 1758483
(Steven Hayward)

I’m on the road today, departing shortly in a flight to Munich, and then connecting on to Bulgaria tomorrow (long story—I’ll try to post updates when I get internet access), but I’m keeping an eye out for Supreme Court news, especially the hoped-for retirement announcement of Justice Kennedy.

One ...


June 26, 2017, 2:18 pm, 1758482

Over at Equitable Growth: Must- and Should-Reads:

Should-Read: Richard Peach and Charles Steindel: Low Productivity Growth: The Capital Formation Link: "Capital intensity... reflect[s] the effect ...


June 26, 2017, 2:18 pm, 1758481

Should-Read: Larry Summers: Globalization Will Work If We Stop Catering To The Elite: "A wage subsidy works like this... http://www.huffingtonpost.com/entry/globalization-
larry-summers_us_594b0440e4b0312cfb616164

...I earn $8 an hour and the government pays an extra $4 for every hour I work. If I earn $10 ...


June 26, 2017, 12:18 pm, 1758418

Must-Read: David Anderson: Reading the BCRA CBO Score: "The Congressional Budget Office is due to release their score on the Senate’s BCRA bill at some point today. Here are a few things to remember as you read the score... https://www.balloon-juice.com/2017/06/26/reading-t
he-bcra-cbo-score/

...


June 26, 2017, 12:18 pm, 1758417

Should-Read: Richard Peach and Charles Steindel: Low Productivity Growth: The Capital Formation Link: "Capital intensity... reflect[s] the effect of current and past physical investment on the growth of labor productivity... http://libertystreeteconomics.newyorkfed.org/2017/
06/low-productivity-growth-the-capital-formation-l
ink.html

...The 0.5 percent growth contribution for “capital intensity” estimated for ...


June 26, 2017, 12:18 pm, 1758419

Must-Read: Benjamin D. Sommers, Atul A. Gawande, and Katherine Baicker: Health Insurance Coverage and Health—What the Recent Evidence Tells Us: "Perhaps no research question better encapsulates this policy debate than, 'Does coverage save lives?... http://www.nejm.org/doi/full/10.1056/NEJMsb1706645
#.WUriDI_R7Z4

...Beginning with the Institute of Medicine’s ...


June 26, 2017, 12:18 pm, 1758415

June 26, 2017, 12:18 pm, 1758416

Must-Read: Nicholas Bagley: Crazy waivers: the Senate bill invites states to gut important health insurance rules: "The bill goes further to grease the wheels for waivers... https://www.vox.com/the-big-idea/2017/6/23/1586226
8/waivers-federalism-senate-bill-essential-benefit
s

...Under Obamacare, a state had to pass a law in support of the proposed ...


June 26, 2017, 10:18 am, 1758376

Weekend Reading: Aristotle: Politics: Property and Wealth: "Let us first speak of master and slave, looking to the needs of practical life and also seeking to attain some better theory of ...


June 26, 2017, 10:18 am, 1758375

Giovanni Pico della Mirandola: Oration on the Dignity of Man: "Most esteemed Fathers, I have read in the ancient writings of the Arabians that Abdala the Saracen on being asked what, on this stage, so to say, of the world, seemed to him most evocative ...


June 26, 2017, 10:18 am, 1758374

30 things worth noting and highlighting in that month of March 2007. The two highlights of the highlights are:

More Journamalism (Time Magazine Edition) http://www.bradford-delong.com/2007/03/more_journa
mali_2.html
: Karen Tumulty of Time really wishes she didn't have to spend time listening to candidates talk about ...


June 26, 2017, 10:18 am, 1758373

Must-Read:

Minxin Pei: Xi Jinping’s war on the ‘financial crocodiles’ gathers pace: "Beijing will pass off a politically motivated purge as tough regulatory enforcement... https://www.ft.com/content/19810ea2-5814-11e7-80b6
-9bfa4c1f83d2
CHM Live: Putting Your Finger On It: Creating the iPhone: "Nitin Ganatra, Scott Herz, ...


June 25, 2017, 6:18 pm, 1758242

Should-Read: Thucydides: ,History of the Peloponnesian War: "To hear this history recited, for that there be inserted in it no fables... http://www.perseus.tufts.edu/hopper/text?doc=Perse
us%3Atext%3A1999.04.0105%3Abook%3D1%3Achapter%3D22

...shall be perhaps not delightful. But he that desires to look into the truth of things done and which ...


June 25, 2017, 6:18 pm, 1758241

Time to hoist this again, and think about it some more, for the very sharp Neville Morley reports from 1600 Pylos & Sphacteria Avenue:


June 25, 2017, 6:18 pm, 1758239

Must-Read: Minxin Pei: Xi Jinping’s war on the ‘financial crocodiles’ gathers pace: "Beijing will pass off a politically motivated purge as tough regulatory enforcement... https://www.ft.com/content/19810ea2-5814-11e7-80b6
-9bfa4c1f83d2

...Making an example of China’s wealthiest tycoons can... rein in overly aggressive business practices endangering the ...


June 25, 2017, 6:18 pm, 1758240

Plutarch: Life of Aratus of Sicyon:

The city of Sicyon, as soon as it had fallen away from its pure Doric form of aristocracy (which was now like a harmony dissolved) and had become a prey to factions and the ambitious schemes ...


June 25, 2017, 2:18 pm, 1758219

Stalinists Gonna Stalin: Hoisted from 2007: Michael Berube is back, eviscerating Alexander Cockburn and Edward Herman, those notorious stooges-in-search-of-a-Stalin: Michael Berube (2007): How Do I Sleep?: "My position on Iraq four years ago hasn't led me to wonder how much responsibility I have for ...


June 25, 2017, 12:18 pm, 1758204
(Scott Johnson)

Douglas Murray (@DouglasKMurray on Twitter) is associate editor of Britain’s Spectator and a senior fellow at the Gatestone Institute. He is a prolific columnist. Gatestone has compiled his columns for the institute here. Murray’s new book is The Strange Death of ...


June 25, 2017, 12:18 pm, 1758203
(Scott Johnson)

The concept of a “hate group” could be useful. In practice, however, it is like the concept of “hate speech,” applied to shut down heterodox speech and confine the public square to dissemination of officially approved thought. The concepts somehow overlook the likes of the the ...


June 25, 2017, 12:18 pm, 1758202

Weekend Reading: David Frum: Why Do Democracies Fail? https://www.theatlantic.com/international/archive/
2017/06/why-do-democracies-fail/530949/
: "It’s suddenly a very urgent and important question. Daniel Ziblatt’s new book arrives just in time to deliver a powerful and supremely relevant answer...

...Don’t be misled by the aggressively unsensational title, ...


June 25, 2017, 12:18 pm, 1758199

Should-Read: Alberto Alesina, Stefanie Stantcheva, Edoardo Teso: Intergenerational mobility and preferences for redistribution: "Americans are generally thought to view the economic system as fair and see wealth as a reward for ability and effort... http://voxeu.org/article/intergenerational-mobilit
y-and-preferences-redistribution

...while Europeans tend to believe that ...


June 25, 2017, 12:18 pm, 1758200

Should-Read: Nick Bunker: Weekend reading: “If you liked those links, check out these” edition: "Discrimination in the U.S. labor market is a very real thing... http://equitablegrowth.org/equitablog/weekend-read
ing-if-you-liked-those-links-check-out-these-editi
on/

...The Federal Reserve hiked interest rates last week believing that inflation will soon increase.... Heather ...


June 25, 2017, 12:18 pm, 1758201

Four worth remembering: George Borjas behaving badly in being unable to get the economic theory right in his head; Stuart Taylor, Jr., behaving very badly in his desperate desire to torture somebody; editor Len Downie of the Washington Post behaving very badly indeed; and high finance breaking ...


June 25, 2017, 12:18 pm, 1758198

Should-Read: Brantly Callaway and William J. Collins: Unions, Workers, and Wages at the Peak of the American Labor Movement: "A novel dataset compiled from archival records... http://www.nber.org/papers/w23516.pdf

...circa 1950. Such data are extremely rare for the early post-war period when U.S. ...


June 25, 2017, 12:18 pm, 1758197

Over at Equitable Growth: Must- and Should-Reads:

Alberto Alesina, Stefanie Stantcheva, Edoardo Teso: Intergenerational mobility and preferences for redistribution: "Americans are generally thought to view ...


June 25, 2017, 12:18 pm, 1758195

Hoisted from Ten Years Ago: Thinking About the Unfortunately Thinkable: Iran—and Bush http://www.bradford-delong.com/2007/06/thinking-ab
out-.html
: It is widely believed that the ruling regime in Iran is seeking to build nuclear weapons.

Perhaps this is not true. Perhaps the ruling regime in Iran is merely seeking to ...


June 25, 2017, 12:18 pm, 1758194

Plutarch: [Life of Aratus of Sicyon][]:

The city of Sicyon, as soon as it had fallen away from its pure Doric form of aristocracy (which was now like a harmony dissolved) and had become a prey to factions and the ambitious schemes of ...


June 25, 2017, 12:18 pm, 1758196
Poverty Traps: The High Price of Investment Goods in Poor Countries http://www.bradford-delong.com/2007/06/poverty-tra
ps-t.html
: Tyler Cowen notes the 'relative prices and relative prosperities' literature. It is an updating of Prebisch-Singer: that poor countries have really lousy terms of trade that grow worse over time, and this ...


June 25, 2017, 4:18 am, 1758152
(Steven Hayward)

Sadly for those of us hoping California would go full commie as an object lesson for the rest of the nation, the state legislature has shelved the proposed $400 billion single-payer health care bill. Democrats are naturally blaming Trump, because the scheme would require a bunch of ...


June 25, 2017, 12:18 am, 1758140
(Paul Mirengoff)

On Thursday, Sen. Charles Grassley accused Sen. Chuck Schumer of lying about the FBI Russia probe. Grassley didn’t use the term “lying,” but there is no other way to read his remarks.

Grassley, the head of the Senate Judiciary Committee, explained that then-FBI director Comey told ...


June 25, 2017, 12:18 am, 1758139
(Paul Mirengoff)

On Thursday, the Philadelphia 76ers made Markelle Fultz the first pick in the NBA draft. Fultz played his high school ball at DeMatha, the long-time power house that came to national prominence under legendary coach Morgan Wooten more than 50 years ago with its victory ...