Tagged Economics

Donald Trump and the Lost (or Never Possessed) Art of the Deal

Because the incumbent president of the United States regularly inundates us with boasts about how he is supposedly a clever and masterful negotiator–notwithstanding the overwhelming amount of evidence suggesting that as with other claimed skills, the incumbent president of the United States suffers massively from a severe and pronounced case of the Dunning-Kruger effect when it comes to gauging his negotiating skills–I figured that it might be useful to think back to a time when actual artists of the deal made a rather good deal that many thought was impossible to pull off. That time was during the presidency of Ronald Reagan…

Hillary Clinton’s Campaign Insults the Very Nation She Wishes to Lead

The putative next president of the United States has been trying recently to seem more approachable, more warm, more friendly, more of a kind-of-person-you-and-I-would-want-to-have-a-beer-with kind of politician. Presumably, achieving all of this would cause the rest of us to want to give her the keys to 1600 Pennsylvania Avenue. But when one looks beyond the charm offensive, one continues to find little charm, and much that is offensive.

What Happens when the Minimum Wage Is Raised?

Well, among other things, you get employers looking for ways to replace human workers with automated ones. To be sure, the process of worker automation is inevitable regardless of whether there has been an increase in the minimum wage. But if you are a human being interested in keeping a job, minimum wage increases–especially sharp and sudden increases to $15 per hour–don’t help human beings keep their jobs. The only thing they do is cause managers and bosses to look for ways to cheaply replace human labor.

Paul Krugman Is Fundamentally Dishonest (A Continuing Series)

Any just and intellectually defensible analysis of the New York Times’s decision to hire Paul Krugman as a columnist has to conclude that in making the hire, the Times severely harmed its own credibility. Krugman simply cannot be trusted to present facts and make honest arguments. Behold the latest example of Krugman’s thoroughgoing mendacity. Comes now the part of any Krugman-related post in which I remind people of what Daniel Okrent, the onetime New York Times ombudsman wrote upon giving up his onetime post: Paul Krugman “has the disturbing habit of shaping, slicing and selectively citing numbers in a fashion…

Quote of the Day

Mr Krugman thus implied that the British government—deliberately or mistakenly—had engineered measly growth at the beginning of its term, thus making it easier for the economy to roar back as the election approached. That would seem to ascribe to the coalition an unrealistic level of strategic wizardry and general deviousness, beyond even that possessed by the chancellor of the exchequer, George Osborne. Though interesting, it may say more about Mr Krugman than the British government. —C.W.. Of course, as many of us already know, Paul Krugman is fond of crazy conspiracy theories.

In Praise of a Carbon Tax

I have invited myself to do some writing over at Aeon Ideas. My first piece addresses the question of what I would be willing to sacrifice in order to combat climate change. An excerpt: I am perfectly willing to sacrifice something to combat climate change. I am willing to sacrifice tax money. I invite policymakers to enact a carbon tax that will be designed to reduce carbon emissions in order to slow–and hopefully, reverse–the process of global warming. I invite pundits to advocate the enactment of such a tax, and to give our governing class the political cover necessary to implement a carbon tax.…

The Trade Policy Clown Show of 2015

Great nations are not normally in the habit of allowing childish temper tantrums to dictate economic policy. Great nations are even less inclined to sacrifice an excellent economic deal because of a temper tantrum. And yet, when we examine the frantic and immature back-and-forth regarding the Trans-Pacific Partnership Act, we see that the United States–a great nation despite the example often set by its “leaders”–has been flirting over the past twenty-four hours with the option of throwing away an excellent economic deal with both hands, in part because trade protectionists have gotten their feelings hurt. I alluded to this issue…