Daily Posting

Haiku:

Oscar Romero / Martyr for social justice / His spirit lives on

Quote of the Day:

“Peace is not the product of terror or fear. Peace is not the silence of cemeteries. Peace is not the silent result of violent repression. Peace is the generous, tranquil contribution of all to the good of all. Peace is dynamism. Peace is generosity. It is right and it is duty.” -Oscar Romero

 

Today, we remember Oscar Romero, a Catholic priest who was assassinated 34 years ago today for his social justice advocacy in El Salvador in Central America. At his death he was Archbishop of San Salvador, and was deeply involved with the Salvadorean civil war–his funeral constituted the largest protest in the history of the country.

Meanwhile, in the world of news…the mysterious disappearance of flight MH370 aside, the world looked on while Russian troops solidified their hold on the Crimean peninsula. There has been no shortage of consternation over the situation, with President Obama arriving in The Hague today. The latest announcement as of this writing is that the decision has been made to exclude Russia from the Group of 8 (thus making it again the G7) as the Western powers continue to apply economic pressure to the Russian government. There has been a great deal of concern over what this will mean for relations between Russia and the rest of the world in the long run.

In other parts of the web, Simon Wren-Lewis writes about how the money multiplier is taught in modern macro and the disconnect between textbooks and the real world. A longish discussion of behavioral economics by Tim Hartford has been getting some attention around the blogosphere, including a notable response from Noah Smith. Mankiw gets philosophical in a New York Times column (that economists have political views is apparently a “dirty little secret”) and concludes that raising the minimum wage is unethical. Fivethirtyeight tells us that the way to get a raise is to quit your job (really?)

And finally, in Roosevelt University Economics Department news, our very own Steve Ziliak and Edward Teather-Posadas were featured on the Roosevelt website this weekend, for their contribution to The Oxford University Press Handbook on Professional Economic Ethics.

Happy Monday!

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