Föhrenbergkreis Finanzwirtschaft

Unkonventionelle Lösungen für eine zukunftsfähige Gesellschaft

Posts Tagged ‘Krugman’

Pure Class Warfare, With Extra Contempt

Posted by hkarner - 26. Juni 2017

In this sense – and in only this sense – what we’re seeing now is a departure from previous Republican practice.

In the past, laws that would take from the poor and working class while giving to the rich came with excuses. Tax cuts, their sponsors declared, would unleash market dynamism and make everyone more prosperous. Deregulation would increase efficiency and lower prices. It was all voodoo; the promises never came true. But at least there was some pretense of working for the common good.

Now we have none of this. This bill does nothing to reduce health care costs. It does nothing to improve the functioning of health insurance markets – in fact, it will send them into death spirals by reducing subsidies and eliminating the individual mandate. There is nothing at all in the bill that will make health care more affordable for those currently having trouble paying for it. And it will gradually squeeze Medicaid, eventually destroying any possibility of insurance for millions. Den Rest des Beitrags lesen »

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Making Ignorance Great Again

Posted by hkarner - 6. Juni 2017

Date: 05-06-2017
Source: The New York Times: Paul Krugman

Donald Trump just took us out of the Paris climate accord for no good reason. I don’t mean that his decision was wrong. I mean, literally, that he didn’t offer any substantive justification for that decision. Oh, he threw around a few numbers about supposed job losses, but nobody believes that he knows or cares where those numbers came from. It was just what he felt like doing.

And here’s the thing: What just happened on climate isn’t an unusual case — and Trump isn’t especially unusual for a modern Republican. For today’s G.O.P. doesn’t do substance; it doesn’t assemble evidence, or do analysis to formulate or even to justify its policy positions. Facts and hard thinking aren’t wanted, and anyone who tries to bring such things into the discussion is the enemy.

Consider another huge policy area, health care. How was Trumpcare put together? Did the administration and its allies consult with experts, study previous experience with health reform, and try to devise a plan that made sense? Of course not. In fact, House leaders made a point of ramming a bill through before the Congressional Budget Office, or for that matter anyone else, could assess its likely impact. Den Rest des Beitrags lesen »

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Trump Gratuitously Rejects the Paris Climate Accord

Posted by hkarner - 2. Juni 2017

Date: 02-06-2017
Source: The New York Times By Paul Krugman

President Trump on Thursday announcing the United States’ withdraw from the Paris climate change accord.

As Donald Trump does his best to destroy the world’s hopes of reining in climate change, let’s be clear about one thing: This has nothing to do with serving America’s national interest. The U.S. economy, in particular, would do just fine under the Paris accord. This isn’t about nationalism; mainly, it’s about sheer spite.

About the economics: At this point, I think, we have a pretty good idea of what a low-emissions economy would look like. I’m sure that energy experts will disagree on the details, but the broad outline isn’t hard to describe.

Clearly, it would be an economy running on electricity — electric cars, electric heat, with internal combustion engines rare. The bulk of that electricity would, in turn, come from nonpolluting sources: wind, solar and, yes, probably nuclear.

Of course, sometimes the wind doesn’t blow or the sun shine when people want power. But there are multiple ways to deal with that issue: a robust grid that can ship electricity to where it’s needed; storage of various forms (batteries, but also maybe things like pumped hydro); dynamic pricing that encourages customers to use less power when it’s scarce and more when it isn’t; and some surge capacity — probably from relatively low-emission natural-gas-fired generators — to cope with whatever mismatch remains. Den Rest des Beitrags lesen »

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Understanding Today’s Stagnation

Posted by hkarner - 24. Mai 2017

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What’s the Matter With Europe?

Posted by hkarner - 5. Mai 2017

Date: 05-05-2017
Source: The New York Times By Paul Krugman

On Sunday France will hold its presidential runoff. Most observers expect Emmanuel Macron, a centrist, to defeat Marine Le Pen, the white nationalist — please, let’s stop dignifying this stuff by calling it “populism.” And I’m pretty sure that Times rules allow me to state directly that I very much hope the conventional wisdom is right. A Le Pen victory would be a disaster for Europe and the world.

Yet I also think it’s fair to ask a couple of questions about what’s going on. First, how did things get to this point? Second, would a Le Pen defeat be anything more than a temporary reprieve from the ongoing European crisis?

Some background: Like everyone on this side of the Atlantic, I can’t help seeing France in part through Trump-colored glasses. But it’s important to realize that the parallels between French and American politics exist despite big differences in underlying economic and social trends. Den Rest des Beitrags lesen »

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Why Don’t All Jobs Matter?

Posted by hkarner - 18. April 2017

Date: 17-04-2017
Source: The New York Times Paul Krugman

President Trump is still promising to bring back coal jobs. But the underlying reasons for coal employment’s decline — automation, falling electricity demand, cheap natural gas, technological progress in wind and solar — won’t go away.

Meanwhile, last week the Treasury Department officially (and correctly) declined to name China as a currency manipulator, making nonsense of everything Mr. Trump has said about reviving manufacturing.

So will the Trump administration ever do anything substantive to bring back mining and manufacturing jobs? Probably not.

But let me ask a different question: Why does public discussion of job loss focus so intensely on mining and manufacturing, while virtually ignoring the big declines in some service sectors? Den Rest des Beitrags lesen »

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Populism and the Politics of Health

Posted by hkarner - 15. März 2017

March 14, 2017 1:43 pm Krugman Blog

What’s next on health care? Truly, I have no idea. The AHCA is a real stinker, and now everyone knows it; ordinarily, that should doom the legislation. But everyone also knows that starting off the Trump legislative era with the crashing and burning of Obamacare repeal would deeply damage Trump; nobody believes what he says, but if he can’t even ram bills through, people will stop being afraid. So they will pull out all the stops.

But why are Republicans having so much trouble? Health reform is hard; but why were the Dems able to pass the ACA in the first place? I’m seeing a lot of talk about Paul Ryan’s inadequacy and Republican lack of preparation as compared with Pelosi and the Dems in 2009, all of which is true. But there’s a more fundamental issue: who is being served?

Obamacare helped a large number of people at the expense of a small, affluent minority: basically, taxes on 2% of the population to cover a lot of people and assure coverage to many more. Trumpcare would reverse that, hurting a lot of people (many of whom voted Trump) so as to cut taxes for a handful of wealthy people. That’s a difference that goes beyond political strategy. Den Rest des Beitrags lesen »

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A Plan Set Up To Fail

Posted by hkarner - 8. März 2017

March 7, 2017 9:01 am March 7, 2017 9:01 am, Paul Krugman

So now we know what Republicans have to offer as an Obamacare replacement. Let me try to avoid value judgments for a few minutes, and describe what seems to have happened here.

The structure of the Affordable Care Act comes out of a straightforward analysis of the logic of coverage. If you want to make health insurance available and affordable for almost everyone, regardless of income or health status, and you want to do this through private insurers rather than simply have single-payer, you have to do three things.

1.Regulate insurers so they can’t refuse or charge high premiums to people with preexisting conditions
2.Impose some penalty on people who don’t buy insurance, to induce healthy people to sign up and provide a workable risk pool
3.Subsidize premiums so that lower-income households can afford insurance Den Rest des Beitrags lesen »

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Donald the Unready

Posted by hkarner - 20. Januar 2017

Date: 20-01-2017KRUGMAN4
Source: The New York Times by Paul Krugman

Betsy DeVos, whom Donald Trump has nominated as education secretary, doesn’t know basic education terms, doesn’t know about federal statutes governing special education, but thinks school officials should carry guns to defend against grizzly bears.

Monica Crowley, selected as deputy national security adviser, withdrew after it was revealed that much of her past writing was plagiarized. Many other national security positions remain unfilled, and it’s unclear how much if any of the briefing materials prepared by the outgoing administration have even been read.

Meanwhile Rex Tillerson, selected as secretary of state, casually declared that America would block Chinese access to bases in the South China Sea, apparently unaware that he was in effect threatening to go to war if China called his bluff.

Do you see a pattern here? Den Rest des Beitrags lesen »

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Von der Verantwortung des Ökonomen für die eigene Disziplin

Posted by hkarner - 4. Januar 2017

Georg Quaas, 23. Dez. 2016, Ökonomenstimmequaas-homepage

Georg Quaas ist Mitarbeiter am Institut für Empirische Wirtschaftsforschung der Universität Leipzig und nimmt dort selbständig die Aufgaben eines Dozenten in Lehre und Forschung wahr.

Die Ökonomik hat ein Image-Problem. Das liegt auch am Umgang der Ökonomen mit der eigenen Wissenschaft, wie dieser Beitrag zeigt.

Im fünften Kapitel seines Buches „Der Mythos vom globalen Wirtschaftskrieg“ rechnet Paul Krugman mit den auflagenstärksten Autoren seines Landes ab, die sich mit dem Thema Welthandel befassen. Er wirft ihnen vor, dass sie beim Leser (oder Fernsehzuschauer)[ 1 ] ein völlig falsches Bild von der Weltwirtschaft (und von der Position der USA darin) erzeugen. Der internationale Handel werde nicht als eine allseits vorteilhafte, friedliche Tätigkeit, sondern als ein Ort des Kampfes dargestellt. Diese Einschätzung könne zu gefährlichen Konsequenzen führen, indem protektionistische Haltungen und Tendenzen gefördert werden.

Krugman’s publizistische Auseinandersetzung mit einem Teil seiner Kollegen und mit einem maßgebenden Politiker (Bill Clinton) ist nicht unser Kampf. Die Volkswirtschaften der Schweiz, Österreichs und Deutschlands haben einen hohen Offenheitsgrad. Weit und breit ist kaum ein volkswirtschaftlicher Experte zu sehen, der protektionistischen Argumenten das Wort redet.[ 2 ] Von der holländischen Krankheit sind die schwächeren Südländer betroffen, denen mit sehr langfristigen Krediten unter die Arme gegriffen wird. Die Nordländer profitieren von einer – unter ihren volkswirtschaftlichen Bedingungen gesehen – unterbewerteten Währung. Die Politik versucht, sich gegen den wachsenden Protektionismus im internationalen Handel zu wehren.[ 3 ] Den Rest des Beitrags lesen »

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