Category: World
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Economists Agree: Corporate Taxes Should Be As Low As Possible
While President of the United States, Harry Truman made a remarkably succinct observation on economists. He said, ‘Give me a one-handed economist! All my economists say ‘On the one hand on the other’. Economists tend to be a divided bunch – Winston Churchill once said ‘If you put two economists in a room, you get two…
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Strategic Defaults Can Definitely Depress Local Housing Prices
I’ve been away on vacation, but a quote in an article from three weeks ago on CNN caught my eye. It has something that is very important to address when looking at strategic defaults. But don’t expect a few depressed mansions to bring down the neighborhood. A single foreclosure in an otherwise wealthy area is…
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Nobody Wants More Japanese Yen
I agree with everything that Matt Yglesias says in his recent Slate article, until the very last point. There’s excessive demand for Japanese money and insufficient demand for Japanese goods and services. The Bank of Japan ought to be addressing this issue by providing the money the world wants so Japanese workers—especially in the youngest…
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Opposing Political and Economic Forces Set to Tear Eurozone Apart
Nouriel Roubini has criticized the European Central Bank for being a lender of last resort – a buyer for European bonds when interest rates become unsustainably high. However, politics is stopping the use of monetary policy, which could soften the economic blow to countries facing severe austerity measures. In a NY times piece today, a…
Envelope Economics 