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Defective Equilibrium mentions that John Minto’s idea of a salary cap is madness. He is correct. My question is why? Why have a salary cap? Why would society need to stop people voluntarily trading? If someone pays someone else an “eye popping salary” this is voluntary trade, why do we feel that we have to […]
When reading a post on public address I came across this gem from NZI. the next two tranches of the proposed income tax cuts should be cancelled on the grounds that they would contribute to the structural deficit, are unlikely to do much for growth, and do not support the most vulnerable households Ok, so […]
Steve Pierson over at the Standard is criticising National’s stimulus package, and the quality of economic journalism. Now, although I’m always happy to criticise things too I feel that some of his critiques are a bit harsh. I’ll go through the two harshest criticisms below:
Given the sheer number of emails I am getting about this article I thought I should post it. Some firms in the porn industry are asking for a bailout – inline with the fact that they have suffered from a sharp fall in demand as a result of the recession. I would say that their […]
Over at the Standard they discuss Bill English’s statement that we will become a “nation of savers”. Now their attack line is relatively weird, especially given that he is just saying that if we need a bigger deposit to buy a house we will have to save it – he doesn’t say we should take […]
This from the Minneapolis Fed: Thus, roughly 80 percent of such business borrowing is done outside of the banking system. The claim that disruptions to the banking system necessarily destroy the ability of nonfinancial businesses to borrow from households is highly questionable There are two ways I can read this quote, one that I agree […]