Tag Archives: US/Global Economics

An Important Centennial Today marks the centennial of the Great October Socialist Revolution, known when I was young in the US as the Russian Revolution, and also perhaps more accurately described as the Bolshevik Coup. On March 8, 1917, people rose up from the streets behind women marching on International Womens’ Day, leading troops to refuse to fire on them, a real revolution, which led to the overthrow of Tsar Nichoalas II and the putting in place of...

by Joseph Joyce Economic Consequences of Populism Who is the true populist: Bernie Sanders, who promises single-payer health care and college without tuition, or Donald Trump, who campaigned on a promise to “drain the swamp”?  Jeremy Corbyn of the UK’s Labour Party, who wants to nationalize public-sector firms, or Marine Le Pen of France’s National Front, who wants to take France out of the Eurozone? And what would be the consequences of their policies?...

(Dan here…Biagio Bossone will be joining contributors to Angry Bear.  Here is his first post for AB concerning the impact of exchange rates) by Biagio Bossone      (Biagio BOSSONE is an Italian national,  currently advises the World Bank Group/IMF on financial sector development issues and technical assistance programs in several countries in Africa, Asia and the Pacific, Latin America, and Northern Africa and the Middle East. He is a consultant to...

(Dan here….Corrected code to fit the format and reposted)  by New Deal Democrat HEADLINES: +261,000 jobs added U3 unemployment rate down -0.1% from 4.2% to 4.1% U6 underemployment rate down -0.3 from 8.2% to7.9% Here are the headlines on wages and the chronic heightened underemployment: Wages and participation rates Not in Labor Force, but Want a Job Now:  down -443,000 from 5.628 million to 5.135 million Part time for economic reasons: down...

by Joseph Joyce 2017 Globie: “Grave New World” Once a year I choose a book that deals with an aspect of globalization in an interesting and illuminating way, and bestow on it the “prize” of the Globalization Book of the Year (known as the “Globie”). The prize is strictly honorific—no check is attached! But I enjoy drawing attention to an author who has an insight on the process of globalization.  Previous winners are listed below. This year’s Globie goes...

Saudi Crown Prince Consolidates Power With Anti-Corruption Arrests Everybody is against corruption, so it has become the new cool way to concentrate power in dictatorial societies to engage in an anti-corruption drive, as Putin and Xi Jinping have done.  Actually corrupt people may well be arrested, but somehow included in the set of those arrested are rivals of the leader who are conveniently disposed of. So we now see it in Saudi Arabia, where Crown...

What happened to the European Phillips Curve ? Recently many have argued that the Phillips curve has become the Phillips horizontal line. I am old enough to remember when the hot new idea in macroeconomics was that the long run Phillips curve is vertical so inflation varies but unemployment stays near the natural rate and average unemployment over medium long periods is constant. Oddly, this view is still the basis of policymaking including notably the...

   October jobs report: great utilization, decent growth, poor wages HEADLINES: +261,000 jobs added U3 unemployment rate down -0.1% from 4.2% to 4.1% U6 underemployment rate down -0.3 from 8.2% to7.9% Here are the headlines on wages and the chronic heightened underemployment: Wages and participation rates Not in Labor Force, but Want a Job Now:  down -443,000 from 5.628 million to 5.135 million Part time for economic reasons: down -369,000...

(/Dan here…lifted from Robert’s Stochastic Thoughts) The Long Run and International Economics I am still thinking about Krugman and the Gravelle GeardownDo click the link if you are interested in understanding what I am typing about. Very briefly the question is: what effect would cutting the tax on profits have on the _US capital stock ? The particular issue is what difference does it make that most of US production is production of non traded goods and...

yes that intuition is difficult. I have an attempt. So 1% of GDP is tradable. Also consumption and total production fixed. Mars cuts tax from t to 0. So to invest more Mars runs a current account deficit — all cyberservice provided by earlhlings & martian cyberworkers go build capital. Note all the extra capital belongs to earthlings (I assumed martian savings are fixed). Paul Krugman finds intuition for the calculations of Jennifer Gravelle...