- David Henderson makes much the same point I did earlier about Don Boudreaux's weak case against monopsony in minimum wage labor markets.
- Jared Bernstein on the problem of the coincidence of market failure and government failure. Surprisingly, a lot of people see government failure and suggest we should just institutionalize it rather than try our best to do something about it.
- Cash for Clunkers is not good at creating jobs. This should surprise no one, I hope. Blinder's justification is that it gave the auto industry a boost at a very rough time. I suppose that's plausible, but it's awful fiscal stimulus.
Procrastinating on January 20, 2017
59 minutes ago