Brad DeLong
Professor of Economics
University of California, Berkeley
Brad DeLong is a former guest blogger at the Washington Center for Equitable Growth. He is also a professor of economics at the University of California, Berkeley, a research associate of the NBER, and a fellow of the Institute for New Economic Thinking, and was from 1993-1995 a deputy assistant secretary of the U.S. Treasury. He teaches economic history, macroeconomics, economic growth, and occasionally finance, political economy, and principles of economics. He writes, mostly, about the changing nature of the business cycle, the mainsprings of economic growth, the current economy in historical perspective, and the past economy in contemporary perspective. He received his B.A. in social studies and Ph.D. in economics, both from Harvard University.
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Equitable Recovery
Brad DeLong: Worthy reads on equitable growth, July 7-12, 2021
Coronavirus Recession
Brad DeLong: Worthy reads on equitable growth, March 14-20, 2020
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What Nick Kristof Doesn’t Get About the Ivory Tower">Should-Read: Dan Drezner (2014): What Nick Kristof Doesn’t Get About the Ivory Tower
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Wealth Taxation and Wealth Accumulation: Theory and Evidence from Denmark">Should-Read: Katrine Jakobsen et al.: Wealth Taxation and Wealth Accumulation: Theory and Evidence from Denmark
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Rational Markets Theory Keeps Running Into Irrational Humans">Should-Read: Noah Smith: Rational Markets Theory Keeps Running Into Irrational Humans
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Unicorns of the Intellectual Right">Should-Read: Paul Krugman: Unicorns of the Intellectual Right
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Raising the Speed Limit on Future Growth">Should-Read: Mary Daly: Raising the Speed Limit on Future Growth
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No, “Obamasclerosis” wasnt a real problem">Should-Read: Larry Summers: No, “Obamasclerosis” wasnt a real problem
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Oklahoma’s Teachers & Education Funding Issues">Should-Read: Mark Antonio Wright: Oklahoma’s Teachers & Education Funding Issues
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Mortality from Nestlé’s Marketing of Infant Formula in Low and Middle-Income Countries">Should-Read: Jesse K. Anttila-Hughes et al.: Mortality from Nestlé’s Marketing of Infant Formula in Low and Middle-Income Countries
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The End of Windows">Should-Read: Ben Thompson: The End of Windows
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Trade Wars, Stranded Assets, and the Stock Market">Should-Read: Paul Krugman: Trade Wars, Stranded Assets, and the Stock Market
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Beveridge Report: Social Insurance and Allied Services">Should-Read: William Beveridge (1942): Beveridge Report: Social Insurance and Allied Services
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The Chinese economy is rebalancing, at last">Should-Read: Martin Wolf: The Chinese economy is rebalancing, at last
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Open Letter to Ben Bernanke">Should-Read: Michael J. Boskin, Charles W. Calomiris, John F. Cogan, Niall Ferguson, Kevin A. Hassett, Douglas Holtz-Eakin, David Malpass, John B. Taylor, and others not worth mentioning: (November 15, 2010): Open Letter to Ben Bernanke
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Genes, Eyeglasses, and Social Policy">
Should-Read: Charles F. Manski (2011): Genes, Eyeglasses, and Social Policy
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Is Automation Labor-Displacing? Productivity Growth, Employment, and the Labor Share">Should-Read: David Autor and Anna Salomons: Is Automation Labor-Displacing? Productivity Growth, Employment, and the Labor Share
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How China can avoid a trade war with the US">Should-Read: In which Martin Wolf begs for China to act like the adult in the house: Martin Wolf: How China can avoid a trade war with the US
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Women in Economics at Berkeley">Should-Read: I think Emily Eisner gets this right: Emily Eisner: Women in Economics at Berkeley
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The Economic Scars of Crises and Recessions">Should-Read: Valerie Cerra and Sweta C. Saxena: The Economic Scars of Crises and Recessions
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Immaculate Inflation Strikes Again">Should-Read: Paul Krugman: Immaculate Inflation Strikes Again
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Sam Harris, Charles Murray, and the allure of race science ">Should-Read: Ezra Klein: Sam Harris, Charles Murray, and the allure of race science
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On Twitter">Should-Read: Joe Weisenthal: On Twitter
Brahmin Left vs. Merchant Right: Rising Inequality and the Changing Structure of Political Conflict (Evidence from France, Britain and the US, 1948-2017)">
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Brahmin Left vs. Merchant Right: Rising Inequality and the Changing Structure of Political Conflict (Evidence from France, Britain and the US, 1948-2017)">Should-Read: Thomas Piketty: Brahmin Left vs. Merchant Right: Rising Inequality and the Changing Structure of Political Conflict (Evidence from France, Britain and the US, 1948-2017)
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Globalization: What Did We Miss?">Should-Read: Paul Krugman: Globalization: What Did We Miss?
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Tax Cuts and Wages Redux">Should-Read: Paul Krugman: Tax Cuts and Wages Redux
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Reconsidering the ‘China shock’ in trade">Should-Read: Robert Feenstra, Hong Ma, Akira Sasahara, and Yuan Xu: Reconsidering the ‘China shock’ in trade
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The macroeconomic effects of the 2017 tax reform">Robert Barro and Jason Furman: The macroeconomic effects of the 2017 tax reform
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The hysteresis-resilience trade-off in unemployment">Should-Read: Tolga Aksoy and Paolo Manasse: The hysteresis-resilience trade-off in unemployment
The “Iron Cage” and the “Shell as Hard as Steel”: Parsons, Weber, and the Stahlhartes Gehäuse Metaphor in the Protestant Ethic and the Spirit of Capitalism">
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The “Iron Cage” and the “Shell as Hard as Steel”: Parsons, Weber, and the Stahlhartes Gehäuse Metaphor in the Protestant Ethic and the Spirit of Capitalism">Peter Baehr (2001): The “Iron Cage” and the “Shell as Hard as Steel”: Parsons, Weber, and the Stahlhartes Gehäuse Metaphor in the Protestant Ethic and the Spirit of Capitalism
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Trump is about to launch a trade war with no way out">Should-Read: Shawn Donnan: Trump is about to launch a trade war with no way out
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Economics failed us before the global crisis">Should-Read: Martin Wolf: Economics failed us before the global crisis
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Why Money Managers Are Paid So Much Is a Mystery">Should-Read: Noah Smith: Why Money Managers Are Paid So Much Is a Mystery
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Test Case – Charlie’s Diary">Should-Read: Charlie Stross: Test Case – Charlie’s Diary
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Health Insurance Coverage and Health—What the Recent Evidence Tells Us">Should-Read: Benjamin D. Sommers, Atul A. Gawande, and Katherine Baicker: Health Insurance Coverage and Health—What the Recent Evidence Tells Us
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Beliefs about Brexit">Should-Read: Simon Wren-Lewis: Beliefs about Brexit
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“A strong, fully employed economyShould-Read: Lawrence Summers: “A strong, fully employed economy
We… would be delighted by… lift[ing] all single mothers out of poverty…. Making a substantial fraction of people not poor would reduce poverty. Duh">
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We… would be delighted by… lift[ing] all single mothers out of poverty…. Making a substantial fraction of people not poor would reduce poverty. Duh">Should-Read: David Brady: We… would be delighted by… lift[ing] all single mothers out of poverty…. Making a substantial fraction of people not poor would reduce poverty. Duh
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Trump and Trade and Zombies">Should-Read: Paul Krugman: Trump and Trade and Zombies
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The Real Reason for Trump’s Steel and Aluminum Tariffs">Should-Read: Martin Feldstein: The Real Reason for Trump’s Steel and Aluminum Tariffs
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Another new publication!">Should-Read: Dan Shaviro: Another new publication!
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How Universities Make Cities Great">Should-Read: Noah Smith: How Universities Make Cities Great
The lure of aggregates and the pitfalls of the patriarchal perspective: a critique of the high wage economy interpretation of the British industrial revolution">
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The lure of aggregates and the pitfalls of the patriarchal perspective: a critique of the high wage economy interpretation of the British industrial revolution">Should-Read: Jane Humphries (2013): The lure of aggregates and the pitfalls of the patriarchal perspective: a critique of the high wage economy interpretation of the British industrial revolution
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Inflation: Price Changes 1997 to 2017">Should-Read: Barry Ritholtz: Inflation: Price Changes 1997 to 2017
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Gendered Language">Should-Read: Pamela Jakiela and Owen Ozier: Gendered Language
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America’s ‘Retail Apocalypse’ Is Really Just Beginning">Should-Read: Matt Townsend et al.: America’s ‘Retail Apocalypse’ Is Really Just Beginning
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The case for fairer algorithms">Should-Read: Iason Gabriel: The case for fairer algorithms
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New Trump Economist Kudlow Has Been Wrong About Everything">Should-Read: Jonathan Chait: New Trump Economist Kudlow Has Been Wrong About Everything
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Inflation? Bring It On. Workers Could Actually Benefit">Should-Read: Belle Sawhill: Inflation? Bring It On. Workers Could Actually Benefit
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Doesn’t Anyone Care If the Trump Tax Cuts Are Working?">Should-Read: Dean Baker: Doesn’t Anyone Care If the Trump Tax Cuts Are Working?
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Policy without politics, immigration, and Trump’s self-awareness">Should-Read: Josh Barro and Isaac Chotiner: Policy without politics, immigration, and Trump’s self-awareness
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INDUSTRIAL POLICIES IN PRODUCTION NETWORKS">Should-Read: Ernest Liu (2016): INDUSTRIAL POLICIES IN PRODUCTION NETWORKS
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Trump’s Trade Gimmickry">Should-Read: Dani Rodrik: Trump’s Trade Gimmickry
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California Affordable Housing Is No Mystery: Just Build More">Should-Read: Noah Smith: California Affordable Housing Is No Mystery: Just Build More
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Just how tight is the U.S. labor market?">Should-Read: Nick Bunker: Just how tight is the U.S. labor market?
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The O-Ring Theory of Economic Development">Should-Read: Michael Kremer (1993): The O-Ring Theory of Economic Development
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The Data Science Venn Diagram">Should-Read: Lots to think about about how statistics and economics should be being taught these days: Drew Conway (2013): The Data Science Venn Diagram
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The Market Dogs That Didn’t Bark">Should-Read: *Anatole Kaletsky *: The Market Dogs That Didn’t Bark
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A Comment on the Return of “It’s Baaaack”">Should-Read: Robert Waldmann: A Comment on the Return of “It’s Baaaack”
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The Political Behavior of Wealthy Americans: Evidence from Technology Entrepreneurs">Should-Read: David E. Broockman et al.: The Political Behavior of Wealthy Americans: Evidence from Technology Entrepreneurs
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Let’s Get Better at Demanding Better from Tech">Should-Read: Cory Doctorow: Let’s Get Better at Demanding Better from Tech
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Why so many Westerners feel like democracy has failed them">Should-Read: Yascha Mounk: Why so many Westerners feel like democracy has failed them
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What older people should know about Medicare and Medicaid">Should-Read: Ann Marie Marciarille: What older people should know about Medicare and Medicaid
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The Liquidation of Government Debt">Should-Read: Carmen M. Reinhart and M. Belen Sbrancia (2011): The Liquidation of Government Debt
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Why do beginner econometricians get worked up about the wrong things?">Should-Read: Frances Woolley: Why do beginner econometricians get worked up about the wrong things?
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The Amazon Threat to Kill the Hungry Tapeworm">Should-Read: Ann Marie Marciarille: The Amazon Threat to Kill the Hungry Tapeworm
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A Contribution to the Empirics of Economic Growth">Should-Read: N. Gregory Mankiw, David Romer, and David Weil (1992): A Contribution to the Empirics of Economic Growth
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U.S. Inequality and Recent Tax Changes">Should-Read: Greg Leiserson: U.S. Inequality and Recent Tax Changes
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A tweetstorm on the recent intellectual history of monopsony">Should-Read: Marshall Steinbaum: A tweetstorm on the recent intellectual history of monopsony
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Kaldor and Piketty’s Facts: The Rise of Monopoly Power in the United States">Should-Read: Gauti Eggertsson, Jacob A. Robbins, and Ella Getz Wold: Kaldor and Piketty’s Facts: The Rise of Monopoly Power in the United States
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Do neural nets dream of electric sheep?">Should-Read: Janelle Shane: Do neural nets dream of electric sheep?
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Economists vs. Scientists on Long-Term Growth">Should-Read: Kenneth Rogoff: Economists vs. Scientists on Long-Term Growth
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Essays in Persuasion">Should-Read: John Maynard Keynes (1931): Essays in Persuasion
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Labour’s embrace of a customs union could end the Brexit fantasy">Should-Read: Simon Wren-Lewis: Labour’s embrace of a customs union could end the Brexit fantasy
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Explaining the Decline in the U.S. Employment-to-Population Ratio: A Review of the Evidence">Should-Read: Katharine G. Abraham and Melissa S. Kearney: Explaining the Decline in the U.S. Employment-to-Population Ratio: A Review of the Evidence
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Federal Reserve’s Monetary Policy & Economic Reaction">Should-Read: Ramesh Ponnuru and David Beckworth: Federal Reserve’s Monetary Policy & Economic Reaction
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TPP 2.0: The Deal Without the US">Should-Read: Zachary Torrey: TPP 2.0: The Deal Without the US
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rebuilding macroeconomic theory project: an analytical assessment">Should-Read: David Vines and Samuel Wills: rebuilding macroeconomic theory project: an analytical assessment
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Some Thoughts About Economic Exposition in Math and Words">Should-Read: Tim Taylor: Some Thoughts About Economic Exposition in Math and Words
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It’s Baaack, Twenty Years Later">Must-Read: Paul Krugman: It’s Baaack, Twenty Years Later
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Inequality and aggregate demand">Should-Read: Adrien Auclert and Matthew Rognlie: Inequality and aggregate demand
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Falling Behind and Catching up: India’s Transition from a Colonial Economy">Should-Read: Bishnupriya Gupta: Falling Behind and Catching up: India’s Transition from a Colonial Economy
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Cost-Push and Demand-Pull Inflation: Milton Friedman and the “Cruel Dilemma”">Should-Read: Johannes A. Schwarzer: Cost-Push and Demand-Pull Inflation: Milton Friedman and the “Cruel Dilemma”
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The Comparative Advantage of Medicare Advantage">Should-Read: Joseph P. Newhouse, Mary Beth Landrum, Mary Price, J. Michael McWilliams, John Hsu, and Thomas McGuire: The Comparative Advantage of Medicare Advantage
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The Duel: The Eighty Day Struggle Between Churchill and Hitler">Should-Read: John Lukacs: The Duel: The Eighty Day Struggle Between Churchill and Hitler
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What Does a True Populism Look Like? It Looks Like the New Deal">Should-Read: Dani Rodrik: What Does a True Populism Look Like? It Looks Like the New Deal
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Reviews ‘Bread for All’">Should-Read: Susan Pedersen: Reviews ‘Bread for All’
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Harvard economist Claudia Goldin studies why women earn less than men">Should-Read: Claudia Goldin: Harvard economist Claudia Goldin studies why women earn less than men
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The Euro Area Needs a Fiscal Union">Should-Read: Helge Berger, Giovanni Dell’Ariccia, and Maurice Obstfeld: The Euro Area Needs a Fiscal Union
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Medicare Extra for All">Should-Read: Center for American Progress: Medicare Extra for All
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On the link between US pay and productivity">Should-Read: Anna Stansbury and Lawrence Summers: On the link between US pay and productivity
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Economist’s View: Links for 02-19-18">Must-Read: Mark Thoma: Economist’s View: Links for 02-19-18
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The father of consumer sovereignty">Should-Read: Henry Farrell: The father of consumer sovereignty
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Budgets, Bad Faith and ‘Balance’">Should-Read: Paul Krugman: Budgets, Bad Faith and ‘Balance’
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London life proves hard to give up for Brexit relocations">Should-Read: Daniel Thomas: London life proves hard to give up for Brexit relocations
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Relative Prices, Hysteresis, and the Decline of American Manufacturing">Should-Read: Doug Campbell: Relative Prices, Hysteresis, and the Decline of American Manufacturing
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Brexit has replaced the UK’s stiff upper lip with quivering rage">Should-Read: Martin Wolf: Brexit has replaced the UK’s stiff upper lip with quivering rage
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Inequality is not inevitable–but the US ‘experiment’ is a recipe for divergence">Should-Read: Facundo Alvaredo, Lucas Chancel, Thomas Piketty, Emmanuel Saez and Gabriel Zucman: Inequality is not inevitable–but the US ‘experiment’ is a recipe for divergence
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U.S. Consumer Prices Top Forecasts, Sending Markets Tumbling">Should-Read: Katia Dmitrieva: U.S. Consumer Prices Top Forecasts, Sending Markets Tumbling
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Sources of displaced workers’ long-term earnings losses">Should-Read: Marta Lachowska, Alexandre Mas, Stephen Woodbury: Sources of displaced workers’ long-term earnings losses
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Gaps in the Market">Should-Read: Heather Boushey: Gaps in the Market
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Exchange Rate Disconnect in General Eqilibrium">Should-Read: Oleg Itskhoki and Dmitry Mukhin: Exchange Rate Disconnect in General Eqilibrium
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How Big a Bang for Trump’s Buck?">Should-Read: Paul Krugman: How Big a Bang for Trump’s Buck?
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Capital Decimation Partners">Should-Read: Dan Davies (2009): Capital Decimation Partners
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Notes on European Recovery">Should-Read: Paul Krugman: Notes on European Recovery
“Saying nothing about the importance of financial linkages and imbalances because they didn’t know they were there does not exactly get the profession off the hook!!!”">
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“Saying nothing about the importance of financial linkages and imbalances because they didn’t know they were there does not exactly get the profession off the hook!!!”">Should-Read: Dan Davies, Simon Wren-Lewis, and Policy Sketchbook: “Saying nothing about the importance of financial linkages and imbalances because they didn’t know they were there does not exactly get the profession off the hook!!!”
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The Grumpy Economist: Bitcoin and Bubbles">Should-Read: John Cochrane: The Grumpy Economist: Bitcoin and Bubbles
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When will the world reach ‘peak child’?">Should-Read: Max Roser: When will the world reach ‘peak child’?
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Academic knowledge about economic policy is not just another opinion">Should-Read: Simon Wren-Lewis: Academic knowledge about economic policy is not just another opinion
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In defense of Social Security Disability Insurance">Should-Read: Dylan Matthews: In defense of Social Security Disability Insurance
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The new asymmetric risk">Should-Read: Jared Bernstein: The new asymmetric risk
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Rejection of Animal FarmShould-Read: T.S. Eliot (1944): Rejection of Animal Farm
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When Will Tech Disrupt Higher Education?">Should-Read: Kenneth Rogoff: When Will Tech Disrupt Higher Education?
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This Is The Real Reason The GOP Doesn’t Want To Do A Budget This Year">Should-Read: Stan Collender: This Is The Real Reason The GOP Doesn’t Want To Do A Budget This Year
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Principles of Political Economy">Should-Read: John Stuart Mill (1848, 1871): Principles of Political Economy
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Understanding the [Post-2000] Decline in Manufacturing Employment">Should-Read: Susan Houseman: Understanding the [Post-2000] Decline in Manufacturing Employment
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Economists in public">Should-Read: Chris Dillow: Economists in public
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Real-Time Estimates of Potential GDP: Should the Fed Really Be Hitting the Brakes?">Should-Read: Olivier Coibion, Yuriy Gorodnichenko, and Mauricio Ulate: Real-Time Estimates of Potential GDP: Should the Fed Really Be Hitting the Brakes?
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Unfulfilled promises: Amazon fulfillment centers do not generate broad-based employment growth">Should-Read: Janelle Jones and Ben Zipperer: Unfulfilled promises: Amazon fulfillment centers do not generate broad-based employment growth
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The Truth About Teen Suicide">Should-Read: Mike Males: The Truth About Teen Suicide
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Noah Smith on Bitcoins: A Failure with a Golden Future ">Should-Read: David Glasner: Noah Smith on Bitcoins: A Failure with a Golden Future
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Universities in the Age of AI">Should-Read: Andrew Wachtel: Universities in the Age of AI
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The Gang That Couldn’t Think Straight">Must-Read: Paul Krugman: The Gang That Couldn’t Think Straight
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“Journalists need a place they can go">Should-Read: Simon Wren-Lewis, Tony Yates, and Dan Davies: “Journalists need a place they can go
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U.S. Uninsured Rate Rises to 12.3% in Third Quarter">Should-Read: Zac Auter: U.S. Uninsured Rate Rises to 12.3% in Third Quarter
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The Regulatory Subsidy for Extreme Leverage: A Reply to Mike Konczal">Should-Read: Brink Lindsey and Steven M. Teles: The Regulatory Subsidy for Extreme Leverage: A Reply to Mike Konczal
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Do Stocks Outperform Treasury Bills?">Should-Read: Hendrik Bessembinder: Do Stocks Outperform Treasury Bills?
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Senate Confirms Jerome H. Powell as Fed Chairman">Must-Read: Binyamin Appelbaum: Senate Confirms Jerome H. Powell as Fed Chairman
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The Durability of Inflation Derp">Should-Read: Paul Krugman: The Durability of Inflation Derp
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Trump’s CNBC interview from the Davos World Economic Forum">Should-Read: Matthew Yglesias:Trump’s CNBC interview from the Davos World Economic Forum
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Why can’t conservatives just admit they were wrong about inflation?">Should-Read: Matt O’Brien: Why can’t conservatives just admit they were wrong about inflation?
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Changing Business Dynamism and Productivity: Shocks vs. Responsiveness">Should-Read: Ryan A. Decker, John C. Haltiwanger, Ron S. Jarmin, and Javier Miranda: Changing Business Dynamism and Productivity: Shocks vs. Responsiveness
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Does Trade Fuel Inequality?">Should-Read: Jeffrey Frankel: Does Trade Fuel Inequality?
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Does Universal Preschool Hit the Target?: Program Access and Preschool Impacts">Should-Read: Elizabeth U. Cascio: Does Universal Preschool Hit the Target?: Program Access and Preschool Impacts
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How Economics Survived the Economic Crisis">Should-Read: Robert Skidelsky: How Economics Survived the Economic Crisis
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The Tax Break That Doctors and Plumbers Both Will Miss">Should-Read: Ruth Simon: The Tax Break That Doctors and Plumbers Both Will Miss
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Ideas and Interests">Should-Read: Peter Hall: Ideas and Interests
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Good enough for government work? Macroeconomics since the crisis">Must-Read: Paul Krugman: Good enough for government work? Macroeconomics since the crisis
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Dude, you broke the future!">Must-Read: Charlie Stross: Dude, you broke the future!
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Does Brexit end not with a bang but a whimper?">Should-Read: Simon Wren-Lewis: Does Brexit end not with a bang but a whimper?
The effect of minimum wages on the total number of jobs: Evidence from the United States using a bunching estimator">
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The effect of minimum wages on the total number of jobs: Evidence from the United States using a bunching estimator">Should-Read: Doruk Cengiz, Arindrajit Dube, Attila Lindner, and Ben Zipperer: The effect of minimum wages on the total number of jobs: Evidence from the United States using a bunching estimator
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How merchant guilds became obsolete">Should-Read: Prateek Raj: How merchant guilds became obsolete
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The rate of return on everything">Should-Read: Òscar Jordà, Katharina Knoll, Dmitry Kuvshinov, Moritz Schularick, Alan Taylor: The rate of return on everything
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“The central fact of U.S. political economy,">Should-Read: Paul Krugman: “The central fact of U.S. political economy,
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America, America">Must-Read: Jonathan Kirshner (January 15, 2017): America, America
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Don’t even try to “Normalise” interest rates">Should-Read: Nick Rowe: Don’t even try to “Normalise” interest rates
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Ten years in, nobody has come up with a use for blockchain">Should-Read: Kai Stinchcombe: Ten years in, nobody has come up with a use for blockchain
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A Road Map for Reviving the Midwest">Noah Smith: A Road Map for Reviving the Midwest
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@CaptainPAYGO on Twitter">Should-Read: Ed Lorenzen: @CaptainPAYGO on Twitter
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Supply-Side Amnesia
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Rethink 2%
