I was on Upfront on KPFA a couple days ago, talking about the latest GDP numbers and the Federal Reserve -- why demand remains strong despite the Fed's best efforts. https://podcasts.apple.com/us/podcast/kpfa-upfront/id563931407
J. W. Mason
@jwmason
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Associate professor of economics, John Jay College, City University of New York. Fellow at the Roosevelt Institute. Father of two. Brooklyn. jwmason.org.
@lutzray @pluralistic I'm afraid I have to disagree. I think the effectiveness of conventional monetary policy has been greatly exaggerated. But I do not think there is any reason to believe that, in general, it increases inflation. No effect one way or another is a reasonable default hypothesis in most contexts, imo.
Not surprisingly, this is very good. https://www.ineteconomics.org/perspectives/blog/the-quasi-inflation-of-2021-2022-a-case-of-bad-analysis-and-worse-response
Steve Randy Waldman“There are plenty of things that cannot go on forever but can, and should, go on for a while. Rapid wage gains might be one of them.” @jwmason https://jwmason.org/slackwire/at-barrons-how-the-feds-view-of-the-economy-matters-for-more-than-monetary-policy/
// great piece on how the Fed almost reflexively tilts against labor bargaining power and so income share
The thing about chatGPT - which I think people are figuring out - is that it is a *text generator*. It produces strings of words more or loess similar to what you might find on the internet in the vicinity of your prompt.
Arin DubeIf Chat GPT can't figure out the actual topic of a highly cited paper in the QJE, and just makes up a different, wrong, description each time, not sure this is going to work out well for helping summarize any literature.
I was on KPFA radio in the Bay Area a couple days ago, talking about the latest GDP numbers and the debt limit. https://kpfa.org/player/?audio=394866
@istuetzle Thanks!
Fortunately I don't have much to lose in that department. So far, I've only been putting stuff up here that I also post on twitter.
This piece by Tim Barker on whether low interest rates exacerbate inequality is really great, and not just because I agree with his conclusion (they don't.) https://ourtime.substack.com/p/is-easy-money-an-engine-of-inequality
@failedLyndonLaRouchite I'm not sure it's *re*litigating - we are still in the Biden era.
You always get less than you want. The question is whether they got less than they would have in a plausible counterfactual case.