Occupation: Economist Birth: February 28, 1953
Congress has always had a soft spot for "experts" who tell members what they want to hear, whether it's supply-side economists declaring that tax cut….
However, the fact that an economist offers a theoretical analysis does not and should not automatically command respect. What is needed is some assur….
Wealthy individuals bought themselves a radical right party, believing - correctly - that it would cut their taxes and remove regulations, but failed….
Friedrich Hayek is not an important figure in the history of macroeconomics..
I've always believed that a speculative bubble need not lead to a recession, as long as interest rates are cut quickly enough to stimulate alternativ….
For decades the G.O.P. has won elections by appealing to social and racial divisions, only to turn after each victory to deregulation and tax cuts fo….
A message to progressives: By all means, hang Senator Joe Lieberman in effigy..
It's a funny thing, by the way, how people who love free markets are also quite sure that they know that investors are being irrational..
I think Stockman is an interesting sort of amalgam..
The great thing about fiscal policy is that it has a direct impact and doesn't require you to bind the hands of future policymakers..
So what are the effects of increasing minimum wages? Any Econ 101 student can tell you the answer: The higher wage reduces the quantity of labor dema….
The important thing to understand is that the case for pollution control isn't based on some kind of aesthetic distaste for industrial society. Pollu….
Rising inequality isn’t about who has the knowledge; it’s about who has the power..
The economics profession went astray because economists, as a group, mistook beauty, clad in impressive-looking mathematics, for truth..
Seven habits that help produce the anything-but-efficient markets that rule the world. 1. Think short term. 2. Be greedy. 3. Believe in the gre….
Middle-class societies don't emerge automatically as an economy matures, they have to be CREATED through political action..
Wealthy Americans who benefit hugely from a system rigged in their favor react with hysteria to anyone who points out just how rigged the system is..
Debt is one person's liability, but another person's asset..
In our country, learned ignorance is on the rise..
I've always believed in expansionary monetary policy and if necessary fiscal policy when the economy is depressed..
In short, what the living wage is really about is not living standards, or even economics, but morality. Its advocates are basically opposed to the i….