This category contains 9 posts

Even Some Republicans Now Make a Case for Curbing Global Warming

(Commentary) A recent op-ed piece by former Republican officials highlights a growing realization among those who accept scientific conclusions that humans are wrecking the environment, and if nothing serious is done soon, the quality of life on earth will get much worse. Unfortunately, conservative populists still reject the claim – supported by science – that … Continue reading

The Damage Done: Recovery Would Now Require Massive Investment that Won’t be Soon Forthcoming

(Editorial) This content might be viewed as an informed observation based on continued non-recovery of the US economy. Economists have noted that factors of production can deteriorate through years of disuse. This is now likely occurring in the US. Many cite the case of WWII as an example when productivity proved resilient – after more … Continue reading

Policymakers Have Failed to Restore the Temple

(Editorial) In his first Inaugural Address, President Franklin D. Roosevelt (D) remarked that the money changers had “fled from their high seats in the temple of our civilization”. Shortly thereafter, New Dealers began to establish a new regime which would endure through the early 1970s. This regime proved remarkably stable, and it delivered prosperity to … Continue reading

A Challenge to any Well-meaning Policymaker Left in our Democracy

(Editorial) This content might be read as an open letter to our policymakers, who are the victims of receiving only self-serving advice from lobbyists and so-called independent policy experts. Whereas advice from policy research institutes and other ostensibly non-lobbying sources should serve as a guide for policymakers when judging policies lobbied for by big-pocketed special … Continue reading

What is More Important: Markets or People?

(Editorial) A defining question for our age is whether people or markets matter more. Some believe that the so-called “free” market can do no wrong, and that it is people who must adjust themselves to it, however painfully. Others believe that markets merely serve as a tool, and that if markets deliver a result that … Continue reading

Roll Back the Clock. Repeat 3 Decades.

(Editorial) One gets the feeling when looking at officially published GDP data that we have come full circle – we both begin the series in 1929 and end it in 2012 with an episode of steep decline and multiple years of below-trend levels reported. Without getting into any sophisticated analysis or addressing correlation-causality issues, there … Continue reading

Tether the Market Beast and Restore Civic Virtue

(Editorial) Throughout the 2000s, there was a commonly recurring theme in media outlets about the “greatest” generation. Widely popularized by journalist Tom Brokaw’s book of the same name, the focus was on how this generation surmounted grave challenges in its formative years – during both the Great Depression of the 1930s and WWII, and went … Continue reading

Public Works: It’s Long Past Time to Reinvest in America

(Editorial) We are now into a sixth year of high unemployment and poor economic performance. We have tried continuous monetary easing here in the US, and it failed to recover our economy (see chart below comparing US output in blue with its potential in red). In Europe, they are trying to increase economic competitiveness by … Continue reading

A Timely Message from a Bygone Era

(Editorial) The spirit that informs the State of the Union address (see excerpt below) by President Franklin D. Roosevelt in 1944 is very different from the political ideology dominant today – it is probably safe to say that a majority of listeners to the address by President Roosevelt in 1944 would understand our predicament as … Continue reading

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