Naked Keynesianism

[embedded content] I was listening to Steve on the radio yesterday. Here a short video of the Bloomberg Surveillance.  Share Get link Twitter Google+

Still grading, so slow posting for a while. Just a brief note on the whole firing of Comey scandal that is still unfolding, and the incredible degree of anxiety on the left, which somehow thinks this means that there is a 'pee' tape and that Trump will be eventually impeached (here, for example; too many of these). This is at least the second event compared to Nixon's firing of the Attorney General, the infamous Saturday night massacre. The other being the firing the Acting Attorney...

That's the title of a paper on economists that publish in predatory journals, published by Wallace and Perry last year and available here. In the abstract they suggest that "A surprising number of authors who are in the RePEc top 5% also published in predatory journals in 2015." 39 journals of the more than 1600 in RePEc are considered predatory, by the way. I don't have the list, but acceptance rates seem pertinent for a discussion of predatory behavior. The authors say in that regard:...

By Thomas PalleyFederal Reserve Chairman William McChesney Martin famously declared that the Federal Reserve “is in the position of the chaperone who has ordered the punch bowl removed just when the party was really warming up.” This paper uses the punch bowl metaphor to analyze how the Federal Reserve can improve monetary policy so as to deliver shared prosperity with greater financial stability. The problem is the party starts earlier on Wall Street than Main Street, so the Fed may...

Call for Papers, Panels and Workshops Drexel University, Philadelphia, PA January 4, 2018 Pluralism and Economics 10 Years after the Crisis (and 200 Years after Marx’s Birth) It has now been 10 years since the financial crisis, but there have been very few changes in mainstream economics. Meanwhile, pluralist economists have been developing sophisticated ideas aimed at addressing the major problems confronting contemporary society. It is also interesting that the 10 year anniversary...

Organized by the Asociación de Economía Crítica, the organization that publishes the Revista de Economía Crítica (last issue online here; I'm on the board). I will teach on post-Keynesian views of the crisis, on the same day as Gérard Duménil , who will do a similar thing for Marxist approaches, I imagine. Program and registration form here.

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Posting has been slow. Last weeks of classes and too many things to do. At any rate, this is the tax plan (below Trump's, above Laffer's infamous napkin plan; no big difference though). Nothing much to say. It's vague, as his campaign promises. The only certain thing is lower taxes for the wealthy. As I noted before, there is no big stimulus in his budget (the big infrastructure spending he promised), and most of the stimulus comes from tax cuts for corporations and the wealthy (which...

By Thomas Palley A key element of Trump’s political success has been his masquerade of being pro-worker, which includes posturing as anti-globalization. However, his true economic interest is the exact opposite. That creates conflict between Trump’s political and economic interests. Understanding the calculus of that conflict is critical for understanding and predicting Trump’s economic policy, especially his international economic policyAs part of maintaining his pro-worker masquerade,...