Posts Tagged ‘austerity’

Inside the offbeat economics department that debunked Reinhart-Rogoff

We have 3(!) UMASS-Amherst PhDs working at the department of economics at Rollins College–just hired the 3rd one last month w00t!

The Colbert Report: Austerity’s Spreadsheet Error

Stephen Colbert goes to town on the Ivy League economists getting busted by UMASS-Amherst grad student Thomas Herndon for sloppy work that was used to justify economic austerity in many countries including the US

The interview with Thomas Herendon

Chris Garlock and Jay Gordon joined Jesse & i

Links:

Bitcoin (anonymous, peer-to-peer, electronic payments system)

The Reinhart-Rogoff fiasco in which the seminal paper behind austerity policies (tax cuts for rich + cost-cutting for everybody else) is exposed as shockingly sloppy.

With Jay Gordon. No we didn’t break out in song from The Wizard of Oz… but almost haha

Our merchants and master-manufacturers complain much of the bad effects of high wages in raising the price, and thereby lessening the sale of their goods both at home and abroad. They say nothing concerning the bad effects of high profits. They are silent with regard to the pernicious effects of their own gains. They complain only of those of other people.

The Wealth of Nations (1776, Chapter IX, p. 117)