Are solar, wind, and other alternatives the magic bullets that will solve the world’s environmental and energy problems? Take a closer look, says Ozzie Zehner in Green Illusions . Zehner not only argues that green energy has technological, environmental and economic limits, but also that without an appropriate policy context, some forms of alternative energy … Read more
The U.S. unemployment rate dropped to 7.7 percent in November, according to today’s data release from the Bureau of Labor Statistics. That was down 0.2 percent since October, and was the lowest rate reported since January 2009. Payroll jobs increased by 146,000 in the month, continuing a moderate but steady trend. The unemployment rate is … Read more
You don’t often encounter controlled experiments in the social sciences. Nations usually balk at using their economies as Guinea pigs. But right now they’re lining up to see if it really is possible to cut your way back to prosperity. So here’s the question: is starvation a cure for hunger? Over coming months we’ll find … Read more
Sorry for the relative lack of silence–I’m just back from a conference in Finland. Details here: http://sorsafoundation.fi/2012/10/04/seminar-on-full-employment-policy/. The conference was live-streamed so perhaps some of you watched it. If not, you can see the video here: http://www.youtube.com/user/KaleviSorsaSaatio. In particular, my presentation is here: http://www.youtube.com/watch?v=sXY8mZKfXUY&feature=plcp; and James Galbraith’s is here: http://www.youtube.com/watch?v=Zi-SP8LkVd8&feature=plcp. The panel discussion that followed the … Read more
Democrats, here are eight principles to guide you in the coming showdown over the fiscal cliff: ONE: HOLD YOUR GROUND. The wealthy have to pay their fair share of taxes. That’s what the election was all about, and we won. It’s only fair they pay more. They’re taking home record share of national income and … Read more
I know, we don’t generally do optimism here at Naked Capitalism. And truth be told, I’m having trouble accepting the Financial Times’ John Dizard’s argument that things are going to get better in the Eurozone. Admittedly, John has a taste for investing on the wild side: he’s typically recommending exotic trades in his weekly column. But his argument isn’t … Read more
What does the drama in Washington over the “fiscal cliff” have to do with strikes and work stoppages among America’s lowest-paid workers at Walmart, McDonald’s, Burger King, and Domino’s Pizza? Everything. Jobs are slowly returning to America, but most of them pay lousy wages and low if non-existent benefits. The Bureau of Labor Statistics estimates … Read more
In the world of UN conference boondoggles, luxury-loving oppressors masquerade as the oppressed, while seeking to restrict everyone else’s freedom. In December 2012, under the auspices of the UN’s International Telecommunications Union (ITU), representatives from 193 countries will meet in Dubai, in the UAE (ranked 112th in the world for press freedom) to discuss the … Read more
As negotiations over fiscal policy heat up, one thing nearly everyone agrees on is that U.S. fiscal policy should be sustainable. The trouble is, there are sharp disagreements about just what sustainability means. This post explores three different meanings of fiscal policy sustainability and explores their significance for current budget debates. Sustainability as solvency The … Read more
In the recent article “Investment Falls Off a Cliff,” the Wall Street Journal reported that half of the 40 biggest publicly traded corporate spenders in the U.S. have announced plans to curtail capital expenditures this year or next year. A slowdown in demand, in particular, in such export markets as China and the eurozone, and … Read more