Simple Doesn't Mean Stupid. Thinking That It

Rising Inequality Isn’t About Who Has The Knowledge; It’s About Who Has The Power.

It Should Be Possible To Emphasize To Students That The Level Of Employment Is A Macroeconomic Issue, Depending In The Short Run On Aggregate Demand And Depending In The Long Run On The Natural Rate Of Unemployment, With Microeconomic Policies Like Tariffs Having Little Net Effect. Trade Policy Should Be Debated In Terms Of Its Impact On Efficiency, Not In Terms Of Phoney Numbers About Jobs Created Or Lost.

We Know That Advanced Economies With Stable Governments That Borrow In Their Own Currency Are Capable Of Running Up Very High Levels Of Debt Without Crisis.

Some Years Down The Pike, We're Going To Get The Real Solution, Which Is Going To Be A Combination Of Death Panels And Sales Taxes. It's Going To Be That We're Actually Going To Take Medicare Under Control, And We're Going To Have To Get Some Additional Revenue, Probably From A Vat. But It's Not Going To Happen Now.

I'm Especially Baffled By The Idea Of Taking Insurance Against A U.s. Default. If America Defaults, We're Talking About A Chaotic World - Mad Max, More Or Less - In Which Case, Who Imagines That Insurance Claims Will Be Honored?