Category Archives: Economics

Paul Krugman writes: Apologists for rising inequality often argue that since most Americans’ income has risen despite rising inequality, there’s no reason to complain about inequality other than envy. So it’s worth remembering that we used to expect economic growth … Continue reading →

Link to the original. Lucas In Context (Wonkish) I thought it might be helpful to think of Lucas now in terms of the history of economic thought. By the way, I basically lived through the story I’m about to tell, … Continue reading →

On several occasions, I wrote about manufacturing jobs going to machines rather than to China.  Just another piece of evidence on that. Paul Krugman recently did something interesting; he used industrial production data and capacity utilization data to obtain an … Continue reading →

Link to the original. How Much Hoc to Add? (Wonkish and Methodological) Mark Thoma objects to Tyler Cowen’s attempt to pigeonhole some of us as “Old New Keynesians”, and makes the case for flexibility in use of models. Indeed. But … Continue reading →