Wednesday, April 13, 2005
Brad deLong: Once again points out the obvious
FrankSpace
Brad dealing keeps pounding on the table as only an economist can do. He points out again and again that while there is reason to believe that economic growth may be lower in the future than it has been in the past, there is none to believe that stock market returns can offer historical profits in such a low growth environment.
Macro Lunch: "Asset Returns and Economic Growth
Yep. However:
1 If there is a trend toward lower economic growth, it has not so far as I am aware been reflected in our actual economic statistics.
2 The Bush administration has been working without cease to permanently increase returns to capital while depressing those to labor. They have enjoyed considerable success in achieving those aims.
3 There are strong theoretical reasons to believe that the Bush administration by accomplishing (2) above, increase the chances of (1) becoming true.
4 No that doesn't invalidate Brad's point over the long haul, but it does mean that Bush gets to hand stockholders a big one off gain.
Brad dealing keeps pounding on the table as only an economist can do. He points out again and again that while there is reason to believe that economic growth may be lower in the future than it has been in the past, there is none to believe that stock market returns can offer historical profits in such a low growth environment.
Macro Lunch: "Asset Returns and Economic Growth
Yep. However:
1 If there is a trend toward lower economic growth, it has not so far as I am aware been reflected in our actual economic statistics.
2 The Bush administration has been working without cease to permanently increase returns to capital while depressing those to labor. They have enjoyed considerable success in achieving those aims.
3 There are strong theoretical reasons to believe that the Bush administration by accomplishing (2) above, increase the chances of (1) becoming true.
4 No that doesn't invalidate Brad's point over the long haul, but it does mean that Bush gets to hand stockholders a big one off gain.
Monday, April 11, 2005
Saving the Libertarian Party from itself.
FrankSpace
Thomas L. Knapp of Knappster fame linktries once again to persude the Libertarian party to chose some decent candidates to run for office. I think probably in vain; decent candidates will chose some other party. He also is trying to prevent a group of undesireables from usurping the New Libertarian name. I hope he has some luck with that. Click the links to help out.
New Libertarian
and
New Libertarian
and
New Libertarian
and finally
New Libertarian
Thomas L. Knapp of Knappster fame linktries once again to persude the Libertarian party to chose some decent candidates to run for office. I think probably in vain; decent candidates will chose some other party. He also is trying to prevent a group of undesireables from usurping the New Libertarian name. I hope he has some luck with that. Click the links to help out.
New Libertarian
and
New Libertarian
and
New Libertarian
and finally
New Libertarian
Saturday, April 09, 2005
Unitarian Jihad
FrankSpace
My Unitarian
Jihad Name is: Sister/Brother Neutron Bomb of Looking at All Sides of the Question.
Monday, April 04, 2005
Tom Friedman: Bush Apologist
FrankSpace
Last night I was reading a couple of posts by Jeanie de Arc on Tom Friedman here and here
I thought she was too harsh on him having an econ degree myself.
"You need only read Tom Friedman's paean not to creating economic relationships that meet human needs, but to creating men and women who fit neatly into the economic machine, to see a perfect, and repulsive, example of what John Paul was talking about." Is just part of her critique.
Then I was going threw some old Globblog (General Glut)archive here about 60% down the page
I like his thinking though I often don't entirely agree.
"but is anyone naive enough to believe that no jobless recovery would have occurred on Al Gore’s watch?" Globblog asks.
And it occured to me that the whole point of Friedman's column "It's a Flat World, After All"... Flat World here
...is that its not Bush's fault that we are in a jobless recovery. Its because Americans are lazy and stupid. Which is of course BS of the rankest ordure. Americans work more hours than anyone in the industrial world. Americans have amoung the highest productivity and proportion of advanced degrees as well. Further and more importantly; The conditions he is describing in terms of access to productivity mediating software and connection to the internet Were already available to those in India and China well connected enough to have a good education
America isnt failing to maintain its technological/creative edge because of its workers. Bush is letting go of our strengths because he neither understands nor values them.
I agree with Elaine Supkis here Its not a coincidence that this administration is very good for Texas Oil Men. Nor that its bad for American IT workers. Thanks guys I now have a much lower opinion of Tom Friedman, not that it was high before, and a better understanding of why we are so screwed.
Last night I was reading a couple of posts by Jeanie de Arc on Tom Friedman here and here
I thought she was too harsh on him having an econ degree myself.
"You need only read Tom Friedman's paean not to creating economic relationships that meet human needs, but to creating men and women who fit neatly into the economic machine, to see a perfect, and repulsive, example of what John Paul was talking about." Is just part of her critique.
Then I was going threw some old Globblog (General Glut)archive here about 60% down the page
I like his thinking though I often don't entirely agree.
"but is anyone naive enough to believe that no jobless recovery would have occurred on Al Gore’s watch?" Globblog asks.
And it occured to me that the whole point of Friedman's column "It's a Flat World, After All"... Flat World here
...is that its not Bush's fault that we are in a jobless recovery. Its because Americans are lazy and stupid. Which is of course BS of the rankest ordure. Americans work more hours than anyone in the industrial world. Americans have amoung the highest productivity and proportion of advanced degrees as well. Further and more importantly; The conditions he is describing in terms of access to productivity mediating software and connection to the internet Were already available to those in India and China well connected enough to have a good education
America isnt failing to maintain its technological/creative edge because of its workers. Bush is letting go of our strengths because he neither understands nor values them.
I agree with Elaine Supkis here Its not a coincidence that this administration is very good for Texas Oil Men. Nor that its bad for American IT workers. Thanks guys I now have a much lower opinion of Tom Friedman, not that it was high before, and a better understanding of why we are so screwed.
