Tuesday, October 21, 2014

General Economics

Real Clear Markets | The Global Economy Is Beginning to Resemble 1982
The global economy is beginning to resemble 1982, a deflationary environment that climaxed with that summer's Peso Crisis and aggressive intervention by Federal Reserve Chairman Paul Volcker. Although certainly not as strong as twenty-two years ago, another bout of deflation (or ‘disinflation') is underway. The bad news is: Federal Reserve officials are only slowly recognizing it. The good news is: they have time to avert its destructive consequences.

Econ Comments & Analysis                                                                                    | The Harmful Consequences of Government Price Controls
The New York Times is again on the warpath against what it calls "predatory lending."
Market Watch | 5 reasons Janet Yellen shouldn’t focus on income inequality
Janet Yellen heads one of the most important agencies in America, the Board of Governors of the Federal Reserve. It has many tasks, but analyzing the state of inequality and education in America is not one of them. Nevertheless, Yellen on Friday returned to her role as professor of labor economics and delivered an address on economic inequality at the Federal Reserve Bank of Boston.
Forbes | Has Inequality Driven A Wedge Between Productivity And Compensation Growth?
Whenever those who believe inequality is the defining challenge of our time want to make a supposedly slam-dunk case that inequality has eaten into the incomes of people below the top, they trot out some version of the chart below, which Atif Mian and Amir Sufi call simply, “The Most Important Economic Chart,” one also recently deployed byPaul Krugman.

Health Care

Wall Street Journal | ObamaCare Shunts My Patients Into Medicaid
Thirty years of experience in private medical practice uncovers many ironies. For example, recently several of my patients who had been paying for their own individual health insurance informed me that they were forced off private insurance and placed into Medicaid when they signed up for health care at This unwanted change—built into ObamaCare with the intention of helping patients—has harmed them by taking away their freedom to choose a health-care plan that works best for them.


Econ Comments & Analysis                                                                                            
Real Clear Markets | Income Growth: The Taxman Cometh
The story of tepid income growth is by no means a new one. Our group has previously discussed the lack of income growth in this recoverty as a sign of stagnation.

The Daily Signal | Hawaii Ranks Worst for Sales Tax Burden
Hawaii ranks worst in three major categories in the seventh annual “Rich States, Poor States” report, which tracks states’ economic policies based on 15 policy areas.


Wall Street Journal | Want a Stable Job With Steadier Raises? Try Working for a Nonprofit
The nonprofit sector largely dodged massive job losses and weak wage growth experienced across most of the U.S. during the recession and first years of the economic recovery, new Labor Department data shows.
AEI | What happened to our entrepreneurial spirit?
If you look at the number of freshly launched firms in a given year and you take that as a share of all firms, that rate declined from about 15 percent or so in the late ’70s to about 8 percent in 2012, which is our latest data.  We actually just had a data release yesterday.  So the startup rate has declined by about half over that period.