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Preferring shorter workweeks to layoffs is first-term microeconomics; it’s implied by the diminishing marginal utility of income. Why isn’t that obvious to Larry Summers?
Archive for the ‘Macroeconomic Policy’ Category
November 8th, 2009
October 3rd, 2009
Category: Macroeconomic Policy
… so we need another one now, focused on supporting state and local expenditure.
August 23rd, 2009
Category: Macroeconomic Policy, Watching Conservatives
Robert Frank blows a hole in wingnut macroeconomics.
June 12th, 2009
Category: Macroeconomic Policy
Forestalling future inflation is not just a matter of investment vs. consumption; smart policies to ease recovery bottlenecks (especially oil shocks), improve competitiveness, and improve the efficiency of health care are also important.
June 12th, 2009
Category: Macroeconomic Policy, Policy briefs
How to be a progressive and worry about inflation at the same time.
May 23rd, 2009
In the short run, we want households to consume more. In the long run, we want them to save more. Passing a progressive consumption tax now to take effect later provides incentives for both.
May 22nd, 2009
Why not tax consumption rather than income?
May 19th, 2009
Category: Macroeconomic Policy
The question isn’t how much the government spends, it’s the rate of return on that spending.
February 18th, 2009
Perhaps we can foster both consumption and investment by enacting a progressive consumption tax — to take effect in five years.
February 14th, 2009
Category: Macroeconomic Policy
Akerlof and Shiller’s new essay on behavioral macroeconomics makes compelling reading. Who else would compare socialism to repressive parenting and Reaganism to permissive parenting?
