1. Always Inflation Somewhere →

    And what about Shadowstats, which claims that inflation is much higher than the government lets on? A subscription costs $175 — the same as 8 years ago.

    Prices go up? Inflation. Prices go down? Supply and demand.

  2. US states with higher minimum wages gain more jobs →

    This isn’t a full on knock down argument. We will see once the numbers for Seattle’s $15/hr minimum wage are published. I suspect that Seattle made a mistake and that at the $15/hr rate you are going to see some adverse results. I could be wrong here.

  3. Build We Won’t →

    We can’t simply write a check to the highway fund, we’re told, because that would increase the deficit. And deficits are evil, at least when there’s a Democrat in the White House, even if the government can borrow at incredibly low interest rates. And we can’t raise gas taxes because that would be a tax increase, and tax increases are even more evil than deficits. So our roads must be allowed to fall into disrepair.

  4. How Tea Party tax cuts are turning Kansas into a smoking ruin →

    The state’s rainy-day fund is dwindling to zero. Month after month, revenue comes in even lower than fiscal officials’ most dire expectations. In the rest of the country, school budgets are finally beginning to recover from the toll of the last recession; in Kansas, they’re still falling. Healthcare, assistance for the poor, courts, and other state services are being eviscerated.

    The cynic in me thinks that’s the result they want. To cut taxes on the wealthy and services for the poor and blame the poor economy on immigrants and Obama.

  5. Joblessness not due to skills gap, experts say →

    The starting wage in manufacturing in the seven-county Pittsburgh region fell from $19,855 in the beginning of 2009, half a year before the end of the Great Recession, to $18,828 this January, or $3,000 less than what the wages would have been if they kept pace with inflation 4 1/2 years into the recovery.

    "Every time you hear someone say ‘I can’t find the workers I need,’ add the phrase ‘at the wage I want to pay’," said Heidi Shierholz, an economist for the Economic Policy Institute, a Washington, D.C., economic research organization.

    People are choosing not to work because the pay is too low. Not surprising.

  6. jtleek/capitalIn21stCenturyinR →

    The data sets and analysis for Piketty’s Capital In The 21st Century. In R. On github.

  7. Amartya Sen: I think that Piketty’s conclusions mostly stand →

    I think that Piketty’s conclusions mostly stand. There are one or two exceptions, including the fact that these conclusions probably apply a little less to the United Kingdom than to many of the other countries which he discusses – they certainly apply to the United States very well. So I think that the summary story that inequality has been growing quite sharply in recent decades, and in recent years in particular, is true.

  8. Businessweek’s Piketty cover is amazing - Vox

    Businessweek’s Piketty cover is amazing - Vox

  9. The Piketty Panic →

    what’s really new about “Capital” is the way it demolishes that most cherished of conservative myths, the insistence that we’re living in a meritocracy in which great wealth is earned and deserved.

    In the warped little minds of the hard right, the real problem isn’t capitalism (which they redefine as needed) but crony capitalism (which they also redefine as needed) where the very wealthy use the state to steal wealth. But we also can’t tax those people because that’s theft and will reduce the incentive for them to work hard. And pointing out the contradiction is Marxism.

  10. Ha-Joon Chang: Economics Is A Political Argument →

    I am seeking to debunk this widespread view, propagated by the current generation of economists, that somehow you can neatly separate economics from politics.

    I don’t agree with everything he says, but he makes some amazing points. I agree with his main point. Worth a read.