Tuesday, January 31, 2017

Wrap Up for January 2017

It's hard to recall, when I've come across so many articles and posts that deserve more than a moment's notice. Right up to the end of the month, too - a busy January indeed.

Has someone in your life been saved by a globalized world?

Fake news doesn't always come from the places one might expect.

The Maker Movement continues to grow.

Reverse repos are still sucking liquidity out of the economy.

The Future of Employment: How Susceptible are Jobs to Computerisation?

Labor supply is an important component of wealth creation. https://www.richmondfed.org/publications/research/economic_brief/2017/eb_17-01

From 2016: A Year defined by America's Diverging Economies:
The employment rate in rural areas was actually 2.9% lower in mid-2016 than it was in early 2007. 
"Money spent on wages and machines is not a benefit to the economy, it's a cost. The benefit comes from consuming the widget." (Scott Sumner) I would also add, consuming the (time originated) service. http://econlog.econlib.org/archives/2017/01/spending_on_con.html

"Zoning is political kryptonite, so cities are loath to take it on."  http://www.city-journal.org/html/where-buffalo-zone-14927.html

I'm in this category as an early "retiree", heh. http://www.hamiltonproject.org/blog/an_update_on_who_is_poor_in_the_united_states1

It's the physical and social infrastructure requirements around us (general equilibrium expectations) that keep a majority of the poor from working on economic terms. Again, as noted by Scott Sumner above, consumption opportunities provide more benefit than investment costs. https://www.aei.org/publication/most-poor-adults-incapable-of-work/

Who thinks these costs for raising a child are realistic?

Why is it so hard to secure funding to maintain already existing infrastructure? This Strongtown post also generated commenter responses at Marginal Revolution.

Deindustrialization translates into hyper-incarceration in the U.S. I believe that locally coordinated mutual employment could provide a productive alternative. https://www.vera.org/the-human-toll-of-jail/why-are-there-so-many-people-in-jail-in-scranton-pa

Which states rely the most on federal aid?

Ben Bernanke explains the Fed's cautious approach to upcoming changes in Washington: https://www.brookings.edu/blog/ben-bernanke/2017/01/13/the-fed-and-fiscal-policy/

The growing tiny house movement, in spite of its enthusiasts (of which I am one), is likely to be constrained by a wide array of economic factors for now.

Hardly anyone seemed to notice Davos this year. http://www.businessinsider.com/davos-elites-suffering-acute-anxiety-over-the-dawning-of-the-trump-era-2017-1

A global services dataset?

Should social science be more solution oriented?

From Edmund Phelps: "Corporatism, and the Dearth of Innovation":
While private ownership remains extensive, the government now exerts control over much of the private sector. A private actor with a new idea often needs government approval to start up; and firms that enter an existing industry must compete with incumbents that usually already have government support.
The value of wanting - hence ultimately choosing - to work together.

Scott Sumner provides AS and AD material worthy of a macroeconomics textbook.

Rodrik asks, Is global equality the enemy of national equality?

From David Beckworth: http://macromarketmusings.blogspot.com/2017/01/macro-musings-podcast-gauti-eggertsson.html and a recent paper: http://people.wku.edu/david.beckworth/fed_dirty.pdf

Some global demographic profiles, plus illustrations.

Interest on reserves is only worsening an already fragile situation. From George Selgin:

Immigration has always been the story: https://www.statista.com/chart/7729/the-united-states-is-a-nation-of-immigrants/

Just a few of many blogger efforts this month, to preserve the open economy that defines our lives.

One has to wonder, how many centrists and moderates are still left? http://politicalcalculations.blogspot.com/2017/01/a-centrists-guide-to-media-bias-and.html#.WIttq4grLnA

Re tariffs, from the Economist: http://www.economist.com/blogs/buttonwood/2017/01/taxing-poor

On global talent mobility, from Vox

Larry White provides a useful update re efforts to restrict and/or ban cash: https://www.alt-m.org/2017/01/31/baptists-and-bootleggers-in-the-organized-effort-to-restrict-the-use-of-cash/

What do the Web people and Wall people have in common? Skepticism of existing institutions.

Some additional explanations and linked reference material for the ongoing discussions of border adjustments, tariffs, VAT and the corporate income tax.

If there's an apple cart to upset, it seems he will find it: https://marketmonetarist.com/2017/01/31/when-will-trump-accuse-denmark-of-being-a-currency-manipulator/

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