One of the recent themes of these endeavors is that substituting capital for labor leads to covert side effects. Note, I did not say unintended or unanticipated. I said covert, and mean it. As the share of labor decreases, the need to ever more drastically cut out labor costs, in order to maintain capital return improvements, increases. Saving 10% on 80% of cost is vastly different from saving 10% on 15% of cost. That ole asymptote problem.
One of the long known glitches in the…Continue
OK, so I have to make some thoughtful thoughts on the collapse of AHCA. Just one: Kim Jong-Don and the Tea Baggers finally figured out that neither was the round hole for their square peg. The Tea Baggers saw Kim Jong-Don as easily maneuvered from his "Populist" rhetoric to their outright fascism, while Kim Jong-Don figured that the Tea Baggers would actually swallow whatever not-leftwing projects he tried.
Watching the "negotiations" from the original RyanCare to its final…
There's a smell of treason in the air. Imagine if J. Edgar Hoover or any other FBI director would have testified against a sitting president? It would have been a mind-boggling event.
-- Douglas Brinkley/2017
does Fifth Column strike a familiar note?
Regular reader will recall that, in the post-mortem of the election, I asserted that even Red states really aren't. They're all dotted with Blue cities; some, of course, large enough to stave off the cretins. Some, not.
Today's Times brings us a first person tale of one such situation, as you might expect from the missive's title, Nashville.
I believe my people elected the…
We're getting closer. Even a (nearly) lunatic Right Wingnut, N. Gregory Mankiw the NYT token Rightist, takes up a number of themes of these endeavors likely opaquely to himself, in today's edition. He suggests that Kim Jong-Don talk to an actual economist (not mentioned is that it should be Stiglitz, but that's a…Continue
Added by Robert Young on March 12, 2017 at 8:30am — No Comments
Yes, one should not speak ill of the dead. Today, the NYT has the obit of an award winning economist, Stephen Ross. This is notable not just because he was an economist, taught at MIT, and earned his doctorate at Harvard. A saltwater economist. No, what is notable is that the obit lauds him for his bad news quant theory. Not that most in the profession consider what he did a bad thing.…Continue
Bill Gates, who has done more to propel the world into the high-tech age than almost anyone, recently called for taxing robots. That has provoked enough negative feedback to fry a motherboard, with critics decrying him for wishing to hold back…
The venerable James B. Stewart tells us about the proto-Trumps today.
What Mr. Stewart and his interviewees ignore: running a democratic government has a diametrically opposite purpose from running a corporation. For the corporate CEO, the goal is to transfer wealth from the many (customers, workers, suppliers) to the few (management, shareholders). Democratic governance,…Continue
It's Thursday, so BLS releases the weekly unemployment number. It's increased 20,000 poor souls. The Kim Jong-Don effect has set in. Sugar high, depression crash. Which got me to thinking about some other dots that appear to be connected.
The first dot. Bannon is an avowed Leninist, not to be confused with Marxist. You can visit the Wiki for all the details you might want. The motivating thrust of Bannon, though, is quite specific. He intends, and has already put into motion, the…Continue
Eduardo Porter, econ/quant/analysis guru at the NYT has generally been reliable, from my point of view. Not so much today. His article is an attempt to blame the Trump win on clueless coastal Liberals.
So while most beneficiaries of welfare programs are white, many working-class whites perceive them as schemes to hand their tax dollars to…
The mainstream pundit class seems non-plussed by Kim Jong-Don's tweet storm about his being wiretapped during the "sacred" election. By the way, if it were so "sacred" he shouldn't have colluded with Putin to bend the result. But I digress.
Mentioned, or alluded to, here in the past is the fundamental difference between Kim Jong-Don and any other pol in memory: he's spent his adulthood living the life of mini-dictator. His "business" is, structurally, exactly like the candy store…