Things to Read on the Morning of Monday, November 11, 2013
Must Reads:
- Uwe Reinhardt’s highly favorable review of Angus Deaton’s Wealth, Health and Inequality
- Stan Collender on why we should not expect any bipartisan budget-deal progress over the next three months
- Mark Thoma sends us to Bill McBride: ‘State and Local Government Austerity is Over’: “This… is… a significant change from state and local governments being a headwind for the economy to becoming a slight tailwind…”
Should Reads:
- Michael Gapen of Barclay’s on the thoughts of senior members of the Federal Reserve staff and how they suggest an even longer time of near-zero short-term interest rates–until 2017 or so…
- Menzie Chinn: A Feasible Measure for Mitigating Income Inequality: raise the minimum wage! The EITC cannot and should not be asked to do it all…
- Paul Krugman: in The Mutilated Economy on Reifschneider et al. on how a failure to deal with unemployment is killing the economy’s long-run growth prospects…
Should Be Aware of:
- Justin Lahart says Worry Over Inequality Occupies Wall Street: <–Is this a meaningful trend, or just a couple of anecdotes? The switch of Wall Street from 40%-60% Obama-McCain to 10%-90% Obama Romney was instructive; it would be nice if it were shifting back…
- Angus Deaton: The Great Escape: Health, Wealth, and the Origins of Inequality
- Simon Johnson: “Quiet Coup” <–Wall Street as a politically-dominant value-subtracing sector: the sensible right-wing critique of America’s contemporary political economy…
- Luigi Zingales: Capitalism for the People: : Recapturing the Lost Genius of American Prosperity <–America’s ills today in an Italian mirror: the sensible right-wing critique of America’s contemporary political economy…
- Gary Bass: The Blood Telegram: <–Scott Lemiux: “As part of my longstanding argument that people making ‘Nixon was really a liberal president’ arguments are being too clever by at least three quarters, Gary Bass’s new book The Blood Telegram is apparently devastating about Nixon’s role in the genocide that preceded the creation of Bangladesh…”
- Brad DeLong: The Budget and Macro Policy: slides updated to November 2013, text not yet updated…
- Brad DeLong: Slides for Janet Yellen as Central Banker