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OpEd News Member for 924 week(s) and 2 day(s)
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Monday, June 25, 2018
Trade: It's About Class, Not Country If Chinese corporations use technology developed by Boeing, Microsoft, or other US giants, this is bad news for their stockholders, but it doesn't directly harm the rest of us. In fact, if the Chinese corporations can then produce the same products at a lower price and then export them to the United States, this would be a gain for non-stockholders. This is the classic argument for free trade.
Monday, June 25, 2018Trade: It's About Class, Not Country If Chinese corporations use technology developed by Boeing, Microsoft, or other US giants, this is bad news for their stockholders, but it doesn't directly harm the rest of us. In fact, if the Chinese corporations can then produce the same products at a lower price and then export them to the United States, this would be a gain for non-stockholders. This is the classic argument for free trade.
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Monday, June 18, 2018
The Tax Cut and the Pay Increase: Halfway There Some companies did announce pay increases, or more typically one-time bonuses, following the tax cut, but the increases going to workers are a small fraction of the money being used to buy back stocks. Many tax cut critics had pointed to this imbalance as evidence that workers will not benefit to any substantial extent from the tax cut.
Monday, June 18, 2018The Tax Cut and the Pay Increase: Halfway There Some companies did announce pay increases, or more typically one-time bonuses, following the tax cut, but the increases going to workers are a small fraction of the money being used to buy back stocks. Many tax cut critics had pointed to this imbalance as evidence that workers will not benefit to any substantial extent from the tax cut.
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Tuesday, June 5, 2018
No You a**holes, Obama Did Not Do It Too The news in the report often moves financial markets. If the president can share information about the report with his favored audience then Donald Trump's friends will make money at the expense of everyone else's retirement accounts. For this reason, past presidents have been very careful to keep their mouth shut about the report until after it is available to the general public.
Tuesday, June 5, 2018No You a**holes, Obama Did Not Do It Too The news in the report often moves financial markets. If the president can share information about the report with his favored audience then Donald Trump's friends will make money at the expense of everyone else's retirement accounts. For this reason, past presidents have been very careful to keep their mouth shut about the report until after it is available to the general public.
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Thursday, May 31, 2018
Donald Trump and ZTE: a Party of One Donald Trump stunned political observers and many of his supporters with a tweet expressing concern about the jobs being lost in China due to the troubles facing ZTE, a Chinese electronics manufacturer. He told his Commerce Secretary, Wilber Ross, to see what he could do to help ZTE.
Thursday, May 31, 2018Donald Trump and ZTE: a Party of One Donald Trump stunned political observers and many of his supporters with a tweet expressing concern about the jobs being lost in China due to the troubles facing ZTE, a Chinese electronics manufacturer. He told his Commerce Secretary, Wilber Ross, to see what he could do to help ZTE.
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Tuesday, May 22, 2018
Donald Trump's Big Pharma First Agenda After handing huge tax cuts to the country's richest people and taking away health care insurance for millions, Donald Trump took another giant step toward abandoning his populist agenda last week. Instead of having Medicare negotiate to bring drug prices down, Trump put out a plan that is focused on making foreign countries pay more for drugs.
Tuesday, May 22, 2018Donald Trump's Big Pharma First Agenda After handing huge tax cuts to the country's richest people and taking away health care insurance for millions, Donald Trump took another giant step toward abandoning his populist agenda last week. Instead of having Medicare negotiate to bring drug prices down, Trump put out a plan that is focused on making foreign countries pay more for drugs.
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Tuesday, May 15, 2018
Krugman on Drugs it is pretty crazy that we expect people when they are sick or dying to pay for research that has already been done. In almost all cases, the cost of manufacturing and delivering drugs is cheap, we make it expensive with government-granted patent monopolies. If we asked questions about paying for possibly life-saving drugs at their actual production costs, it would almost always be a no-brainer.
Tuesday, May 15, 2018Krugman on Drugs it is pretty crazy that we expect people when they are sick or dying to pay for research that has already been done. In almost all cases, the cost of manufacturing and delivering drugs is cheap, we make it expensive with government-granted patent monopolies. If we asked questions about paying for possibly life-saving drugs at their actual production costs, it would almost always be a no-brainer.
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Tuesday, May 8, 2018
Helping Blue States Preserve the SALT: We Know the Beneficiaries Are Higher Income People If we want to see headway on quality affordable child care, free college, expanded health care coverage, it will come from states like New York and California. The Republicans quite explicitly wanted to make it more difficult for states to be able to pursue progressive policies, which is why they limited the SALT deduction. So no, I have no problems trying to reverse this cheap trick.
Tuesday, May 8, 2018Helping Blue States Preserve the SALT: We Know the Beneficiaries Are Higher Income People If we want to see headway on quality affordable child care, free college, expanded health care coverage, it will come from states like New York and California. The Republicans quite explicitly wanted to make it more difficult for states to be able to pursue progressive policies, which is why they limited the SALT deduction. So no, I have no problems trying to reverse this cheap trick.
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Sunday, May 6, 2018
Yes Kids, You Can Have a Promising Career Scaring People About the Debt: Just Ask George Will The vast majority of this debt is fixed rate mortgage debt. This debt is not going to be affected by a rise in interest rates. Car loans are also a large part of the debt. The vast majority of these loans are also fixed rate. Student debt and credit cards are the other major components. Much of the former is also fixed rate.
Sunday, May 6, 2018Yes Kids, You Can Have a Promising Career Scaring People About the Debt: Just Ask George Will The vast majority of this debt is fixed rate mortgage debt. This debt is not going to be affected by a rise in interest rates. Car loans are also a large part of the debt. The vast majority of these loans are also fixed rate. Student debt and credit cards are the other major components. Much of the former is also fixed rate.
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Tuesday, May 1, 2018
Making Finance Pay It would be ideal if we could count on government agencies to regulate industry rather than be ripped-off by it, but that is clearly not the way business is done in Donald Trump's America. In this case, we can hope for more efficient public alternatives, which will take away the customers from Mulvaney's campaign contributors.
Tuesday, May 1, 2018Making Finance Pay It would be ideal if we could count on government agencies to regulate industry rather than be ripped-off by it, but that is clearly not the way business is done in Donald Trump's America. In this case, we can hope for more efficient public alternatives, which will take away the customers from Mulvaney's campaign contributors.
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Friday, April 27, 2018
Dems' Job Guarantee Isn't Nearly as Easy as It Sounds None of this means we should reject a job guarantee out of hand. We can start with a lower wage and limit the program to long-term unemployed, or in other ways restrict the size. But we should also look to measures to weaken the economic power of those at the top.
Friday, April 27, 2018Dems' Job Guarantee Isn't Nearly as Easy as It Sounds None of this means we should reject a job guarantee out of hand. We can start with a lower wage and limit the program to long-term unemployed, or in other ways restrict the size. But we should also look to measures to weaken the economic power of those at the top.
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Tuesday, April 24, 2018
The Irresponsibility of Fiscal Responsibility Economic policy will continue to suffer as long as the loudest voices in the debate have no understanding of how the economy works. Deficits can undoubtedly be harmful. When the economy is reaching its limits, as indicated by a shortage of workers or other inputs and rapidly rising wages and prices, a higher deficit will make this problem worse.
Tuesday, April 24, 2018The Irresponsibility of Fiscal Responsibility Economic policy will continue to suffer as long as the loudest voices in the debate have no understanding of how the economy works. Deficits can undoubtedly be harmful. When the economy is reaching its limits, as indicated by a shortage of workers or other inputs and rapidly rising wages and prices, a higher deficit will make this problem worse.
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Sunday, April 22, 2018
Message to NYT Times: Growth in Our Trading Partners Is Good for the United States Politicians like to call their deals "free trade" agreements because intellectual-types then think they have to support them. In reality, this pact includes the imposition of a number of regulatory measures that have nothing directly to do with free trade and enhanced patent, copyright, and related protections, which are explicitly protectionist.
Sunday, April 22, 2018Message to NYT Times: Growth in Our Trading Partners Is Good for the United States Politicians like to call their deals "free trade" agreements because intellectual-types then think they have to support them. In reality, this pact includes the imposition of a number of regulatory measures that have nothing directly to do with free trade and enhanced patent, copyright, and related protections, which are explicitly protectionist.
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Tuesday, April 10, 2018
New York State's Big Middle Finger to the Republican Tax Plan It is likely that the employer-side payroll tax device will catch on quickly, even though it is not mandatory. It would be great if other liberal states adopted similar workarounds to preserve most of the SALT deduction for their residents. We would get a situation where the only people who lose the benefit of the SALT deduction would be higher-income people living in Republican states.
Tuesday, April 10, 2018New York State's Big Middle Finger to the Republican Tax Plan It is likely that the employer-side payroll tax device will catch on quickly, even though it is not mandatory. It would be great if other liberal states adopted similar workarounds to preserve most of the SALT deduction for their residents. We would get a situation where the only people who lose the benefit of the SALT deduction would be higher-income people living in Republican states.
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Monday, April 9, 2018
NYT News Section Goes Into Battle Against Trump Trade Wars: Warns of Higher Prices for Hip Replacements Unfortunately, most politicians are staunchly protectionist when it comes to measures that might reduce the income of doctors, hospitals, and medical equipment manufacturers. They only are interested in reducing trade barriers when most of the losers are less-educated and less politically powerful workers.
Monday, April 9, 2018NYT News Section Goes Into Battle Against Trump Trade Wars: Warns of Higher Prices for Hip Replacements Unfortunately, most politicians are staunchly protectionist when it comes to measures that might reduce the income of doctors, hospitals, and medical equipment manufacturers. They only are interested in reducing trade barriers when most of the losers are less-educated and less politically powerful workers.
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Friday, April 6, 2018
Disagreeing With Krugman: Is China Stealing Knowledge? These rules were about forcing developing countries to pay more money to companies like Pfizer and Microsoft for everything from drugs and medical equipment to seeds and software. It shouldn't be surprising that developing countries like China might not like these rules.
Friday, April 6, 2018Disagreeing With Krugman: Is China Stealing Knowledge? These rules were about forcing developing countries to pay more money to companies like Pfizer and Microsoft for everything from drugs and medical equipment to seeds and software. It shouldn't be surprising that developing countries like China might not like these rules.
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Monday, April 2, 2018
Why Should the Poor Pay High Drug Prices? We have seen a lot of hyperventilating in political circles over Donald Trump's recently proposed tariffs on steel and aluminum. While these do not seem like well-considered policies, and are likely to do more harm than good even from the narrow standpoint of increasing manufacturing employment, they are not by themselves the horror story being presented.
Monday, April 2, 2018Why Should the Poor Pay High Drug Prices? We have seen a lot of hyperventilating in political circles over Donald Trump's recently proposed tariffs on steel and aluminum. While these do not seem like well-considered policies, and are likely to do more harm than good even from the narrow standpoint of increasing manufacturing employment, they are not by themselves the horror story being presented.
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Sunday, April 1, 2018
Roger Lowenstein, F**k Your Stock Portfolio Congress should pass fiscal stimulus and the Fed should lower interest rates to sustain demand. The destruction of the counterfeiters' money should allow us to have demand in areas that meet the needs of the rest of us rather than the counterfeiters.
Sunday, April 1, 2018Roger Lowenstein, F**k Your Stock Portfolio Congress should pass fiscal stimulus and the Fed should lower interest rates to sustain demand. The destruction of the counterfeiters' money should allow us to have demand in areas that meet the needs of the rest of us rather than the counterfeiters.
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Friday, March 30, 2018
Will Interest Payments Take Up the Entire Federal Budget? The deficit hawks hyperventilate endlessly about the former route of paying for things, but completely ignore the latter, even though it poses a much larger burden. In the case of prescription drugs alone the burden is more than $370 billion a year (we pay more than $450 billion for drugs that would likely cost less than $80 billion in a free market).
Friday, March 30, 2018Will Interest Payments Take Up the Entire Federal Budget? The deficit hawks hyperventilate endlessly about the former route of paying for things, but completely ignore the latter, even though it poses a much larger burden. In the case of prescription drugs alone the burden is more than $370 billion a year (we pay more than $450 billion for drugs that would likely cost less than $80 billion in a free market).
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Wednesday, March 28, 2018
High CEO Pay: It's What Friends Are For The explosion in the pay of corporate CEOs is well documented. While the heads of major corporations were always well paid, we saw their pay go from 20- to 30-times the pay of ordinary workers in the 1960s and 1970s to 200- or 300-times the pay of ordinary workers in recent years. Paychecks of more than $20 million a year are now standard.
Wednesday, March 28, 2018High CEO Pay: It's What Friends Are For The explosion in the pay of corporate CEOs is well documented. While the heads of major corporations were always well paid, we saw their pay go from 20- to 30-times the pay of ordinary workers in the 1960s and 1970s to 200- or 300-times the pay of ordinary workers in recent years. Paychecks of more than $20 million a year are now standard.
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Thursday, March 22, 2018
CON: Kudlow's fossilized beliefs could lead Trump further astray Kudlow is an ideologue. This could be a serious problem with a president who often shoots from the hip without seriously considering the ramifications of his policies. Rather than trying to get Trump to consider various perspectives, Kudlow may just reinforce Trump in his ill-considered plans.
Thursday, March 22, 2018CON: Kudlow's fossilized beliefs could lead Trump further astray Kudlow is an ideologue. This could be a serious problem with a president who often shoots from the hip without seriously considering the ramifications of his policies. Rather than trying to get Trump to consider various perspectives, Kudlow may just reinforce Trump in his ill-considered plans.
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