CONTACT INFORMATION :


About Me:
Real Name: Duncan Black
Age: 38
Location: Philadelphia


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Deep Night Thought

I'm very grateful that the Guardians of Our Elite Discourse have decided to listen carefully to Pam Geller. They are however missing out on a good thing in regards to Pastor Grant Swank. I could hook them up. Pastor Swank = Great Copy.

 
Late Night

 
More Thread

Because you talk too much.

 
Happy Hour Thread

Enjoy

 
Terrible Bang For The Buck

Indeed.

 
The View From TheMineapolis Fed

The problem is structural, nothing we can do, call us in a few years, naptime.

This estimate is based on a rather aggregative view of the labor market. It is important to dig deeper to get a better understanding of the problem, and there is a considerable amount of research under way exploring the quantitative importance of the various forms of mismatch. For example, the International Monetary Fund has recently released a special study based on a new state-by-state measure of the gap between demand and supply for workers with different levels of educational attainment. The study examines the impact of this variable and the foreclosure rate on state-level unemployment. It estimates that 1.5 percentage points of the national unemployment rate is due to these two sources and their interaction. Thus, according to this study, these two types of mismatch alone can account for a significant fraction of my estimate of 2.5 percentage points.

Good economic policy is about using the right tool for the problem at hand. The mismatch problems in the labor market do not strike me as readily amenable to the kinds of monetary policy tools currently available to the Fed.

Oh well.

 
Econ 101 Makes You Stupid

It is indeed a problem. Just to add to the linked post a bit, in normal situations increased demand for shovels would lead to new entrants into the shovel manufacturing and distributing businesses, causing there to be more shovels available for all. But in snow storm crisis, there isn't actually going to be time for new shovels to appear in the marketplace. Instead, shovel sellers will simply make more money, and rich people will be more likely than poor people to obtain needed shovels, even though poor people might not just shovel their own driveways but also might get a bit entrepreneurial and sell their driveway shoveling services to their neighbors. As James says, the point isn't that there's necessarily a perfect rationing mechanism, just that in this case there's no particular reason to think that price is the best one. Under certain conditions, price is a good rationing mechanism, but not all.

 
Why Does Everything Have To Be So Complicated

Consider the amount of money wasted on multiple programs, evaluation, administration, means-testing, etc...

Just provide universal daycare already. Simple, easy, popular.

 
You Know What Else Is Anti-Semitic?

Blaming it on the Jews.

 
Leave The Technocratting To The Technocrats

I think the important point is that executives (mayors, governors) we think are "good" are good in large part because they are good at hiring...skilled technocrats... so that technocrats can do good stuff while the politician spends time convincing the public that the good stuff is indeed good. Obviously wonkier-seeming politicians have a greater than normal appeal for wonky liberal bloggers, and having some wonksense gives them the ability to hire quality technocrats, but the job of a politician is a bit broader than that.

 
Not Entirely Stupid

I certainly don't think that, say, losing the House will usher in a glorious period of bipartisan cooperation whereby exciting progressive legislation gets passed with some Republican support, though it is probably true in some sense that it would lead to something other than Republicans trying to torpedo absolutely anything. They'd have some power to set the agenda and therefore take credit for things unlike now where they aren't in charge, don't get credit, and therefore have a rational interest in just opposing everything.

On the other hand, I don't especially care if Republicans start voting yes on things they support and then maybe agreeing to some compromise. I don't think we'll get better results that way, and certainly don't care about bipartisanship as an end in itself.

 
Wanker of the Day

Mike Lester.

 
It's The Little Things

One thing that always fascinates me is how massive theft and corruption often get a pass, but things like "free bridge tolls" incense people.

 
GOP Daddies

I joked on twitter yesterday that the only possible replacement for Rahm was David Gergen. Then we get this from Chuck Toddler:

Coming up on @dailyrundown the Rahm-replacement short list. Which Republicans are on it. Plus...

 
Your Liberal Media

Where "compromise" means giving Republicans everything that they want. NYT.

 
Overnight

enjoy

 
Tuesday Night Thread

Hey, Will Bunch wrote a book.

 
Happy Hour Thread

enjoy.