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Blogs - Aug 2014

Fiscal Policy and the State
Wed, 2014-08-06 13:13

This is a collection of commentaries and research papers on the role of fiscal policy and government prudence of public finances.

Should I buy or should I sell? by Steve Cecchetti and Kim Schoenholtz
Thu, 2014-08-07 18:29

Is there a bubble in today's US stock market?

The Rebirth of Stakeholder Capitalism? by Robert Reich
Mon, 2014-08-11 18:13

We may be witnessing the beginning of a return to a form of capitalism that was taken for granted in America sixty years ago.

Has paper money outlived its purpose? by Steve Cecchetti and Kim Schoenholtz
Mon, 2014-08-11 18:43

 "The anonymity of paper currency can liberate people, freeing them from their governments. "

Should markets clear? by Steve Randy Waldman
Mon, 2014-08-11 18:49
The point of this essay is not, however, to make the case for nonmarket allocation mechanisms. There are lots of things to like about letting the market-clearing price allocate goods and services. Market allocations arise from a decentralized process that feels “natural” (even though in a deep sense it is not), which renders the allocations less likely to be contested by welfare-destructive political conflict or even violence. It is not market-clearing I wish to savage here, but the inequality that renders the mechanism welfare-destructive and therefore unsustainable. 

Libertarianism and Classical Liberalism: Is There a Difference? by Mario Rizzo
Mon, 2014-08-11 19:19

So there are important differences among liberals and libertarians but I view these are differences along a spectrum. Some are principled (“Never, ever, initiate the use of force”) and some are empirical (“Many public goods can be provided privately”) and some are hard to classify (“The NSA should not collect masses of meta data”).

The Perils of Economic Consensus by Dani Rodrik
Wed, 2014-08-27 23:26
Disagreements among economists reflect the fact that their discipline comprises a diverse collection of models, and that matching reality to model is an imperfect science.

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