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The Lucas Mystique

There is this thing in economics called the Lucas Critique. You see it pop up every so often and hear it referred to in revered tones. It is, apparently, very important and very, very, insightful. It has a lot to do with the state of economics today. Which, as you know, I think of as […]

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Too Big To Prosecute?

Add another advantage to being a big business: apparently you’re too big to prosecute. I came across an article in the New York Time’s DealBook concerning the deal being made between JP Morgan Chase and the government. The bank had, it seems, turned a rather blind eye to the evil machinations of Bernie Madoff and […]

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Are You Being Served?

That was the title of an old British sitcom. It is also an appropriate question in today’s economy. David Cay Johnston does us all a favor by focusing our attention on the plight of our modern era domestic class. I have written about this topic both directly and tangentially for years: inequality is the defining issue […]

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