Monetarist, Keynesian, and Minskyite Depressions Once Again: Yes, Lloyd Metzler Was the Greatest Chicago Macroeconomist Ever: The Honest Broker for the Week of July 19, 2014

I have said this before. But I seem to need to say it again... The very intelligent and thoughtful David Beckworth, Simon Wren-Lewis, and Nick Rowe are agreeing on New Keynesian-Market Monetarist monetary-fiscal convergence. Underpinning all of their analyses there seems to me to be the assumption that all aggregate demand shortfalls spring from the… More >

Over at Writers with Drinks: Oversharing About Money: An International Financial Wire Transfer from Lafayette, California, USA to Ahero, Nyando District, Nyanza Province, Kenya: Monday Focus for July 14, 2014/The Honest Broker

Writers with Drinks: An Evening of Oversharing About Money: 7:30 p.m. July 12 :: Make-Out Room :: 3225 22nd St. San Francisco, CA :: Price: $5-$20 "If time is money, then consider this evening with Charlie Jane Anders, J. Bradford DeLong, Frances Lefkowitz, Farhad Manjoo, and Carol Queen to be a good investment..." Oversharing… More >

Piketty Day Here at Berkeley: The Honest Broker for the Week of April 26, 2014

It's Piketty Day here at Berkeley. So let me note that Robert Solow has another good Piketty review: Robert Solow: 'Capital in the Twenty-First Century' by Thomas Piketty, Reviewed: "Inequality... has been worsening... the widening gap between the rich and the rest.... A rational and effective policy for dealing with it... will have to rest… More >

Telling the Real History of Twentieth-Century East-Central Europe Through Black Screwball Comedy Cozy-Catastrophe Farcical Tragedy: Watching Wes Anderson’s “The Grand Budapest Hotel”: The Honest Broker for the Week of April 5, 2014

In Alfred Hitchcock's (1938) The Lady Vanishes, the moment when the train is stopped in the countryside by armed fascists is the moment of revelation and clarity: all becomes clear, the adversaries reveal themselves, and the proper action heroics can begin. In Wes Anderson's (2014) The Grand Budapest Hotel, the first moment when the train… More >

The Launch of and Climate Change Disaster Weblogging: (Trying to Be) The Honest Broker for the Week of March 29, 2014

I confess that I had forgotten about the existence of Roger Pielke, Jr., when Google sent me off to: and I read: Nate Silver goes from hero to goat, convicted by the Left of apostasy: Pity Nate Silver. Hero of the Left for his successful take-down of GOP’s election forecasts, shooting down their delusions… More >

Is There Any Sense in Which Quantitative Easing Might Increase Financial Instability?: The Honest Broker for the Week of March 22, 2014: Friday Focus

Let us start with Gabriel Chodorow-Reich: Gabriel Chodorow-Reich: Effects of Unconventional Monetary Policy on Financial Institutions: "Abstract: Unconventional monetary policy affects financial institutions through their exposure to real project risk, the value of their legacy assets, their temptation to reach for yield, and their choice of leverage.... High-frequency event studies... show the introduction of UMP… More >