Originally published at dtcochrane.com DT Cochrane In Part 2, I looked at the shifts in U.S. household consumption that occurred during WWII. While aggregate consumption increased alongside massive government intervention, the qualitative mix of that consumption changed in some drastic ways. This analysis was intended to augment the analogy made by J.W. Mason and Mike […]
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Originally published at dtcochrane.com DT Cochrane In Part 1, I explained the motivation for this series. I want to use the analogy of WWII, as invoked by economists JW Mason and Mike Konczal in an NYT op-ed, to consider how we ought to manage a potential post-pandemic economic boom. In this post, I will look […]
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Originally published at dtcochrane.com DT Cochrane Economist JW Mason recently tweeted the following: Bloomberg writer Peter Coy was motived to perform this research by an NYT op-ed from Mason and Mike Konczal. Mason and Konczal’s primary argument is that we can have a post-pandemic economic boom, but that it needs to be properly managed. They […]
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Originally published on Economics from the Top Down Blair Fix Donald Trump took an IQ test … you’ll never guess what he scored! Apologies. That was my attempt at clickbait.1 Now that I’ve hooked you, let’s talk about the elephant in the room. No, not Donald Trump. Let’s talk about IQ. For as long as […]
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Originally published on Economics from the Top Down Blair Fix Prices are caused by supply and demand, right? So say neoclassical economists. If you’ve bought their fairy tale, I recommend you watch the video below. In it, Jonathan Nitzan demolishes the neoclassical theory of prices. It’s a master lesson in how to deconstruct a theory. […]
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