Sunday, February 2, 2014

The errors of a Berkeley economist and other assorted links

1. Leftist economist shot his mouth off in 2009.  He was very wrong.

In response to Mankiw’s criticism of the Administration forecast, DeLong wrote a post that began with “Sigh.” (italics are DeLong’s) to show how frustrating it was to deal with such idiocy. DeLong explains that because the 2009 economy was depressed due to high unemployment, we could expect higher than average economic growth as the unemployment rate quickly fell over the next two years (during which half of the above-natural unemployment should be erased). Then DeLong–like Krugman–acknowledges that Mankiw knows all of this, and ends his post this way:
So how did things turn out? Scott Sumner reports that “the actual 5 year RGDP growth just came in at slightly under 6.3%. That’s not even close. Mankiw won by a landslide.”

2. This economist article is pretty good, except for the misleading title and photo (come on -- the fire is almost certainly not due to fracking).

The story discusses how fracking leads to overall increases in prices, but those closest see smaller gains.  That's not what the title or photo imply.

3. I missed this when it first came out ... scalper resistant tickets to the Super Bowl.

Let's hope Obama stops delaying this.  He's been really out-of-line with his delays.  This would be very good for our country.

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