Saturday, June 5, 2010

Friday update.

David P. Goldman analyzes today’s unemployment report.

The Heritage Foundation’s Brian Riedl
looks at federal spending.

AEI’s John Makin
says fiscal discipline must be shared across a currency union.

Recently, though, Robert Mundell explained: “I don’t see how the economic crisis in Greece would affect the euro. This is a fiscal problem, not a problem of the euro. If California has a fiscal problem, this is a problem of California, not a problem of the dollar."

Paul Krugman
supports the Left’s growing pro-growth contingent, against fiscal austerity.

Steve Hanke
thinks Krugman is wrong on spending.

Australia’s Clarke and Dawe
offer an economic satire.

Paul Volker
pens a long economic analysis at the NY Review of Books.

Regarding Volcker – especially his performance in 1981-82 -- supply-siders are generally critical, see
here, here, here, here, here and here.


  1. I appreciate your efforts Sean but I think you are just another one who wants to miss seeing the forest for the trees.

    The whole SS ideology flies in the face of government forcing big business to act responsibly. The bank catastrophe should have been a clue but apparently it was not enough to change the SS attitude. Now the oil catastrophe should be making it very clear and plain that big business can't be trusted to do what's right when government allows it to go it's own way and do as it wishes.

    This is where the libertarian agenda and the SS agenda is failing the country. This is why government needs to play a large part in what's going on in the country and needs to regulate.

    Will the oil spill make the difference? It does seem that the Amreican people are becoming more resolute in understanding that government involvement is the only thing that can save the day. But on the other hand, depending on what news you read and what online sites you visit, the perception is that nothing has changed with some people.

    Do the supplysiders on SS forum understand yet? Obviously not as the best they can do is make crude jokes about the oil spill catastrophe. It really does appear that they are still believing Rush Limbaugh when he said that it was natural and not a big deal. Nature will take care of it.

    Is it a big deal? I for one would like to hear the SS'ers ring in on the question and answer one way or another. If they understand that change is needed then the rest of the country surely must be a mile and a half ahead of them!

  2. TSG: The government does such a bang-up job already regulating the private sector, huh? Where are all these clairvoyant individuals that can predict bubbles, crises, crashes, etc. They are always behind the curve. If they exist, I can confidently say they are working in the private sector trying to profit from said clairvoyance!
    Truth be told, the best regulator is the free market backed up by a solid and predictable legal system.
    The regulatory burden in this country is already overwhelming. Look at the size of the administrative state! How can any sane person say that industry is unregulated?

  3. Hi Bob, and nice to hear you back again. Bob, the only way that regulating is going to take place is through bad experiences. The oil spill just happens to be one in the making and people who have been dead set against regulations are changing sides. Are you with us on that one at least yet?