Haiku of the Day

Change is difficult– / Even the slightest reform / Is call’d tyranny.

Quote of the Day

“A long-run fall in the rate of interest would do much to stimulate private investment, while an extension
of public investment could make up for its deficiencies, and a drastic policy of redistribution of income
would increase consumption, and reduce the amount of investment necessary to preserve a reasonable level of employment. All these policies meet with serious difficulties and have to contend with violent
opposition, and it remains to be seen whether it is possible for the present economic system to adapt itself to the requirements of the future.” -Joan Robinson, Introduction to the Theory of Employment, 1937

Links of the Day

Ezra Klein on Obamacare Derangement Syndrome

Simon Wren-Lewis on the Fed’s Macroeconomic Model

A discussion from the recent INET conference on Markets and What Money Can and Can’t Buy

Anecdotes and Facts in American discourse

Fivethirtyeight on how cutting unemployment benefits has failed to create jobs

 

Happy Monday!

 

 

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