Tag Archives: US/Global Economics

Larry Summers has responded to his critics. My first thought is, yes he is still really smart. Also Olivier Blanchard also thinks the Covid Relief bill is too generous, and, in particular objects to the $1400 for most Americans. Note that Blanchard is the author of the main citation in my critique of Summers (although I should also have cited Summers on secular stagnation, Delong and Summers on the Keynesian Laffer Curve and Blanchard and...

January 2021 jobs report: a strong divergence between very weak job gains, but a big drop in unemployment; but the only critical number is the doses of vaccine administered  For the past several weeks, based on the increase in initial jobless claims, I have warned that the December employment report might have a negative number, or at very least a very weak positive. Once again this was an accurate forecast. There was a strong divergence...

January 2021 jobs report: a strong divergence between very weak job gains, but a big drop in unemployment; but the only critical number is the doses of vaccine administered  For the past several weeks, based on the increase in initial jobless claims, I have warned that the December employment report might have a negative number, or at very least a very weak positive. Once again this was an accurate forecast. There was a strong divergence...

Doing the world a favor. For Michael. I did indeed post Dilke’s work. Then I reposted it. Then, ten years later, Contributions to Political Economy reprinted Dilke’s pamphlet, along with an essay about it by Giancarlo de Vivo. And forthcoming in the next issue of CPE is my article on the “Ambivalence of Disposable Time.” Thank you, Michael, for asking me to do the world a favor. Rest in Peace. ...

Doing the world a favor. For Michael. I did indeed post Dilke’s work. Then I reposted it. Then, ten years later, Contributions to Political Economy reprinted Dilke’s pamphlet, along with an essay about it by Giancarlo de Vivo. And forthcoming in the next issue of CPE is my article on the “Ambivalence of Disposable Time.” Thank you, Michael, for asking me to do the world a favor. Rest in Peace. ...

RIP Michael Perelman  I have just learned that old friend Michael Perelman has “passed quietly in his sleep” (not reported of what) on September 21, 2020, having been born on October 1, 1939, so just shy of his 81st birthday.  I knew Michael for a long time and considered him a personal friend, although it has been some time since I have seen him in person.  He long had an active internet list and was officially signed on as one of the people who...

RIP Michael Perelman  I have just learned that old friend Michael Perelman has “passed quietly in his sleep” (not reported of what) on September 21, 2020, having been born on October 1, 1939, so just shy of his 81st birthday.  I knew Michael for a long time and considered him a personal friend, although it has been some time since I have seen him in person.  He long had an active internet list and was officially signed on as one of the people who...

The two most leading sectors of the real economy – manufacturing and construction – remain “on fire” Data for January 2021 started out this morning with the ISM manufacturing index, while the December laggard of construction spending was also reported.  While the ISM manufacturing reading declined from 60.7 to 58.7, since 50 is the break-even point, this is still a very strong positive. The even more leading new orders subindex also declined...

The two most leading sectors of the real economy – manufacturing and construction – remain “on fire” Data for January 2021 started out this morning with the ISM manufacturing index, while the December laggard of construction spending was also reported.  While the ISM manufacturing reading declined from 60.7 to 58.7, since 50 is the break-even point, this is still a very strong positive. The even more leading new orders subindex also declined...

Is China Now Number One?  Actually I think focusing on such questions can be a not very useful exercise, but here I am asking it anyway.  As it is, indeed the Peoples’ Republic of China (PRC) is indeed Number One on a number of important grounds, although probably the bottom line is that the world is now dominated by a G2, the US and China, with it unclear which is Number One overall.  What has happened is that up until quite recently there was no...