I recently ran across a remarkable survey of prominent US economists on the American Recovery and Reinvestment Act, the stimulus package Obama passed at the beginning of his presidency. The results are striking for two reasons–they show a clear consensus among economists that the stimulus was a success, and they completely contradict popular opinion.
Continue reading “American Voters are Completely Out of Touch With Economic Experts”
We are the Borg. Your biological and technological distinctiveness will be added to our own. Resistance is futile.
If the French thought their 2012 election of socialist François Hollande over former president Nicolas Sarkozy meant that they would have their Keynes and avoid austerity, they have been proven fatally wrong. Hollande has just announced plans for a €50 billion austerity package, a cut of 4% of France’s GDP. He has promised to cut taxes on businesses by €30 billion, but this will come in the form of the elimination of a requirement that French businesses fund a family welfare program. Based on the IMF’s multiplier estimate for depressed economies (1.5), France will lose 6% in potential GDP growth over the next 3 years under this plan, potentially resulting in a new French recession. Hollande’s argument for this plan betrays a stunning incompetence on economic matters and illustrates that French voters have been played–there was no democratic alternative to Sarkozy in 2012.
Continue reading “The Assimilation of François Hollande is Complete”
In the aftermath of republican Chris Christie’s recent re-election as governor of New Jersey, many in the press have been quick to make sweeping claims about what this means for the republicans nationally. Chief among these claims is the notion that Christie is a moderate–consequently, Christie’s victory is an indication that the republicans should or will become more moderate in the future. But while Christie has attempted to cultivate an image nationally as a centrist, reasonable republican who chills with Barack Obama and disses Rand Paul, I have not seen many in the press taking any kind of serious look at what Christie has done policy-wise in New Jersey. So let’s do that today.
I haven’t been doing much writing about the US economy lately, in part because there’s been no substantive movement on the issue politically since sequestration went through. All we’ve gotten lately are some retread hopey changey speeches from Obama and threats of future government shutdowns from congressional republicans. Nonetheless, these are the first signs that we will soon be having more unproductive fights about the economy with potentially devastating consequences for growth, so I’ve been keeping my eyes peeled. And, lo and behold, I stumbled on a little poll from Gallup.
Continue reading “Americans Still Don’t Know What Sequestration Is”
Given the title, it’s necessary to make a clarification. I support a federal Europe. It’s the only way Europe can regain its ability to make foreign and economic policy independently from the United States, and regain its position as a leading region. However, after running some numbers today, I no longer believe in the Euro as presently constituted. Here’s why.
Continue reading “Is the Eurozone a German Empire?”
Benjamin Studebaker 
