Category Archive: Economics

Jul 27

Why socialism isn’t a dirty word…

  After a two year hiatus, I’m starting my return to political blogging with a bang by a discussion of…socialism.  What?  Why would I discuss “socialism” when there are so many other things going on like the dropping of Boston from the Olympic bid. Greece, ISIS, etc.?  And didn’t socialism end except in places like …

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May 28

German Conservatives Go Left of U.S. Again

To add to what I said about a week and a half ago on how German conservatives say things that you would rarely hear an American Democrat say, Reuters had an excellent piece that highlights how different Europe really is.  I recommend reading the whole article, but it is quite telling that the German Finance …

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May 21

Krugman on What Drives Deficit Scolds

I finally got around to reading Paul Krugman’s piece in the New York Review of Books on austerity.  In it, he gives a concise statement that explains very well what economic interests motivate the opposition to stimulus and deficit spending.   It also makes clear what economic interests are not being served. “As many observers …

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May 18

Merkel Comments Point Out Difference Between Western Europe and US

In an interesting contrast between Western Europe and the US, German Chancellor Angela Merkel said today that financial markets need more regulation.  Her party, the Christian Democratic Union, is the more conservative German party, yet gives at least some minimal commitment to the notion that the government should keep markets in check.  Merkel said, “Crises have blown …

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Jan 30

Serious versus Non-Serious Positions on US Debt

Paul Krugman was on Morning Joe (video below) this week and put forth  his standard arguments about job creation needing to take priority over deficits.  (I encourage people to watch it for a thorough run-through of the basic Keynesian arguments.)  The co-host, Joe Scarborough, wrote an opinion piece on Politico blasting Krugman.  What strikes me …

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Jan 20

No One Ever Says “We Are on the Road to Japan”

During the presidential campaign, Romney said Obama would drive the US down the road to Greece in terms of its debt.  Sen. John Cornyn made the same argument in an op-ed a could weeks ago, saying we need government spending cuts to avoid the “path of Greece, Italy, and Spain.”  But it interesting that one …

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Jan 13

First Tackle the Debt, Then Worry About Humans

I just watched a great interview with Paul Krugman by Bill Moyers from a couple days ago (see below).  Last summer I read Krugman’s book they mention, End This Depression Now, so this is all pretty familiar to me, but I still can’t help but feel furious that Republicans, and some centrist Democrats, are so intent …

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Jan 12

Disturbing Report on World’s Food Going to Waste (and a good project addressing global hunger)

Via Democracy Now, I came across a truly horrid finding by a British organization, Institution of Mechanical Engineers.  In a new report, they find that half, yes half, of the world’s food may not actually be consumed.  This is truly unbelievable that the problem in the US is we have too many overweight kids, while …

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Jan 09

For US, Oil is About Power Not Consumption


A December Forbes magazine piece states, “If the United States no longer needs access to Middle East oil under any foreseeable circumstances, then the priority Washington assigns to the region will plummet. ”  Really?   Looking at some basic stats seems to show a different picture.  US consumption of Middle East oil is not the …

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Nov 14

Republican Economics the Same in 1920’s and Today

wealth concentration

Since I teach high school history, I thought I’d share a couple graphs I found for one of my classes.  During the 1920’s, GNP per capita was increasing… But gains were concentrated the top… Calvin Coolidge and Herbert Hoover were the proponents of supply-side economics and “rugged individualism” from 1921-1932.   Republicans spout the same …

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