The Tragedy of the Monetary Commons
Earlier this month, Argentina and Brazil announced that they would begin working to implement a common currency. The news shocked many economists, including Oliver Blanchard, former chief economist of the International Monetary Fund. Blanchard responded by tweeting: “This Is Insane.” While neither country has a good track record in monetary affairs, the potential problems created […]
James Galbraith: The Quasi-Inflation of 2021-2022 – A Case of Bad Analysis and Worse Response
Yves here. Galbraith reviews conventional pictures of inflation, the profile of our current episode, and how it clear did not result from Covid “stimulus” related spending. This piece does a good job of making theory accessible and explaining how it applies to recent conditions. However, readers may quibble with Galbraith not including food shortages (avian […]
BS Bots and Blue Checks
There has been a lot to talk about in tech lately. In this episode, host Russ Roberts welcomes back one of our favorite tech-watchers, Arnold Kling, to talk about these latest developments- including Elon Musk’s acquisition of twitter, the implosion of FTX and the scandal-plagued Sam Bankman-Fried, and the release of Chat GPT. We know you’ve […]
Black women gain ground in labor market but still face unique barriers
An employee works at the BMW manufacturing plant in Greer, South Carolina, October 19, 2022. Bob Strong | Reuters A decrease in the unemployment rate of Black women is heartening, but labor experts warn that the trend shouldn’t create any false notions about equity in the workforce. The unemployment rate for the entire Black population […]
Here’s where the jobs are for January 2023 — in one chart
Zoom In IconArrows pointing outwards The U.S. economy added far more jobs than expected in January, boosted by a jump in leisure and hospitality employment. That one service sector saw an increase of 128,000 jobs in the month, led by 99,000 positions at restaurants and bars alone, the Bureau of Labor Statistics said in a report released […]
Payrolls increased by 517,000, unemployment rate at 53-year low
The employment picture started off 2023 on a stunningly strong note, with nonfarm payrolls posting their biggest gain since July 2022. Nonfarm payrolls increased by 517,000 for January, above the Dow Jones estimate of 187,000 and December’s gain of 260,000, according to a Labor Department report Friday. related investing news “It was a phenomenal report,” […]
