News
WSJ | OECD Hints at Developed-Economy Recovery
The world's developed economies may be set to emerge from several months of slowdown, led by the U.S. and Japan, according to the Organization for Economic Cooperation and Development.
USA Today | Moody's says U.K., France debt outlook 'negative'
Moody's today downgraded the debt ratings of six eurozone countries and put a negative outlook on the United Kingdom, France and Austria, setting up the possibility they might lose their top ratings in the next 18 months
WSJ | Greek Economy Shrinking Rapidly
Greece was plunging deeper into recession at the close of last year, showing the devastation of the country's economy even before new austerity plans are implemented in the months ahead.
Market Watch | Retail sales in U.S. rise 0.4% in January
U.S. retail sales rose in January by the most in four months as Americans increased spending at department stores, general stores and bars and restaurants
Bloomberg | Multifamily Buildings to Lead U.S. Construction Gains
Construction of multifamily units will lead the U.S. building industry again this year, allowing housing to contribute to growth for the first time in seven years, according to economists Michelle Meyer and Celia Chen.
CNN Money | Which states are the richest?
When Indiana governor Mitch Daniels announced a budget surplus for the latest fiscal year, the windfall came as good news for his state's employees, some of whom received bonuses of as much as $1,000. Indiana is not alone
Econ Comments & Analysis
WSJ | The Chaos of Greece
Rioters torched shops and offices, with banks and foreign businesses the main targets.
Real Clear Markets | The Political Class to Prudent Americans: "Drop Dead!"
Though home ownership was always vastly overrated, and is particularly problematic in a world of fast-moving capital, those who were wise amid the latest government induced mania will be forced to pay for the mistakes of the profligate.
Bloomberg | Spending Won’t Fix What Ails U.S. Infrastructure
President Barack Obama’s announcement yesterday of a six-year, $476 billion surface transportation reauthorization bill, as part of his 2013 budget, is the latest demonstration of a longstanding presidential propensity for transportation projects.
Washington Times | A nation of takers
Americans pride themselves on being a self-reliant people. We know that the freedom to make our own fortune sets us apart from the people of many other nations.
AEI | Understanding the true cost of state and local pensions
Pensions have come under increased scrutiny as funding levels have dropped and required contributions have risen.
Blogs
Marginal Revolution | Bubbles and economic potential and potential gdp
There is no AD boost that can (anytime soon, without a lot of extra growth kicking in), restore Greece to its previous output peak and its previously expected performance-to-come.
WSJ | Wealthy at $250,000? Depends on Where You Live
Within President Barack Obama‘s budget released Monday are proposals to end the 2001 and 2003 tax cuts and limit itemized deductions for households making more than $250,000 a year and individuals making more than $200,000 a year.
Marginal Revolution | Innovation Nation v. Warfare-Welfare State (more)
In Launching the Innovation Renaissance I argue that the warfare-welfare state is crowding out other areas of spending, even when such spending could be highly valuable.
National Review | Loopholes Are Dead, Long Live Loopholes
President Obama's budget message derides “special-interest loopholes,” but then proceeds to provide more special-interest loopholes.
Library of Economics | Revisiting Goldin and Katz
Let me invoke one of W. Edwards Deming's insights about quality control. The later you intervene in a process, the more you have to spend to achieve a given level of improvement.
