"Words ought to be a little wild, for they are the assault of thoughts on the unthinking" - JMK
- Gene on how unaware of the what the rest of us actually think some libertarians really are. This specifically deals with some claims about social contract theory that I do promise I'll post on in the near future... just a little busy to get it down in detail.
- Joe Fetz, frequent commenter, is blogging.
- I really wanted to go to the University of Maryland. When they didn't want me, I comforted myself with the thought that it was just a very competitive year because Carmen Reinhart was in the news a lot from her new book and the U. Maryland pool was very competitive. Now, applicants don't have that excuse - Reinhart is moving to Harvard (congratulations!). And if you haven't read her book yet, you really should.
- Jonathan Catalan takes down Josh Barro on Austrian economics.
- Brad DeLong reposts a great old post on Hicks.
- Blatant discrimination in IT help wanted ads. I've been in contact with the author of this report - she's asked me to write something up on it/promote it. I don't usually get worked up about foreign workers taking our high skill jobs (unless it leads people to embrace bad immigration policy or other bad policies), but this is pretty outrageous stuff.
- Unlearningecon on the bargaining power of capital and its relevance to questions of workplace freedom.
- Institutions and culture matter: Fukushima edition.
- Brad DeLong on the ACA ruling and markets. I think critics have some latitude to argue that the ruling was already price into the markets, but regardless of that issue this appeal to regime uncertainty really needs to stop. Regime uncertainty is a fine argument in theory, but it doesn't fit the data.
- I am of the opinion that the emasculation of American federalism in the twentieth century has lead to worse policy than would have occured in a counterfactual world. I am increasingly of the opinion that weakened state and local governments have been especially problematic for macroeconomic policy. Would a more robust federalism have made getting through this depression easier? It's tough to say, but I think it's very likely.
- David Henderson shares some important fourth of July thoughts from the great Adam Smith.
Ben Bernanke Blog Blogging
49 minutes ago