Category Archives: Unemployment

“Opportunistic Disinflation”?? What the…?

Yglesias and TheMoneyIllusion link to sites explaining “opportunistic disinflation.” It’s a questionable doctrine adopted sometime in the 1980s by the Federal Reserve for fighting inflation “opportunistically.” It contrasts with what former Fed Chairman Paul Volker did in 1981—slamming 15% hyper-inflation with a Fed Funds rate of 19% and throwing the economy into deep recession with 10% unemployment.

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Steal this book? Not necessary—it’s free!

Dean Baker has published a new book (hat tip, Ezra Klein), and it’s free: The End of Loser Liberalism: Making Markets Progressive. From the blurb:

 Progressives need a fundamentally new approach to politics. They have been losing not just because conservatives have so much more money and power, but also because they have accepted the conservatives’ framing of political debates. They have accepted a framing where conservatives want market outcomes whereas liberals want the government to intervene to bring about outcomes that they consider fair.

 This is not true….

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Jobs & Bridges

Last Friday, after a visit with friends on Cape Cod, my wife and I crossed the Bourne Bridge, the southern span across the Cape Cod Canal. Looking up as we passed under the arch, I noticed a metal sign that was part of the structure: “Bourne Bridge: 1933-1935.”

Figure 1

The bridge was built by the Public Works Administration (PWA), the precursor to the WPA.

Where are the bridges built in 2009-2011? The city halls? The schools? The energy research labs? The music halls?

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