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Potbelly's Stock Doubles on Day of IPO, Redistribution to the 1 Percent?Dean Baker / October 05, 2013
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Does Hank Paulson Really Think China's Economy Grew at an 18.7 Annual Rate from 2002 to 2012?Dean Baker / October 05, 2013
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Everything You’ve Heard About Obamacare Being a Job-Killer Is WrongAlan Barber / October 04, 2013
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The Age of Oversupply: Good Argument, Tough SellIn "The Age of Oversupply" (Penguin Group, 2013), Daniel Alpert makes a compelling case that the United States and the world are stuck in a serious crisis of insufficient demand for the foreseeable future. According to Alpert, the result is likely to be a prolonged period of slow growth and high unemployment barring coordinated international efforts to counter the problem.
Before giving the outline of Alpert's argument, let me get out my baseball bat to beat home a simple point. Standard economic theory does not believe in a world in which demand is a problem except possibly for short periods of time during recessions. This means that we don't have to worry about having enough demand because the market will automatically adjust to keep the economy at the full employment level of output. If there is unemployment, then interest rates will fall enough to induce the additional investment, consumption, or net exports (slightly longer story) needed to bring the economy back to full employment.
Dean Baker / October 04, 2013
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President Obama’s Defeats May Turn Out to Be More Important Than His Likely Victory Over RepublicansMark Weisbrot / October 04, 2013
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Washington Post Uses Euphemisms in News Story to Advance Its Agenda for Cutting Social SecurityDean Baker / October 04, 2013
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NYT Falls for Cheap Obama Administration Propaganda on the Debt CeilingDean Baker / October 04, 2013
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Repealing the Medical Device Tax: The Republican Plan to Give More Tax Dollars to General ElectricDean Baker / October 04, 2013
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Shutting Down the Government Over Health CareDean Baker
Al Jazeera America, October 3, 2013
Dean Baker / October 03, 2013
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Latin America and the Caribbean
Petraeus' Statement on Plan Colombia at Odds With RealityLast week, former CIA director David Petraeus coauthored a column with the Brookings Institute’s Michael O’Hanlon hailing U.S. policy in Colombia as “one of the best stories on the national security front of the 21st century to date.” That same day, Colombian President Juan Manuel Santos stood before the United Nations in New York and recalled the more than 220,000 people who have been killed in the conflict over the past 50 years, emphasizing the “harsh and ugly reality of a conflict that [is] unfortunately, still in force.”
The juxtaposition of the two leaders’ statements points toward the U.S.’s ongoing focus on a militarized approach to the war on drugs, despite overwhelming evidence that suggests that Plan Colombia has been, according to Amnesty International, “a failure in every respect.”
Petraeus, a key driver of U.S. efforts to increase drone operations in the Middle East, touts Plan Colombia as a “success story” because of the massive increase in the size of Colombia’s armed forces and influx of new intelligence and targeting technology. Such measures for Colombia’s success remain predictably superficial, and are, moreover, divorced from the program’s stated aims to reduce cultivation and drug-related violence. While there has indeed been an increase in military presence since Plan Colombia’s inception in 2000, it has by no means been a victory for U.S. “security assistance.”
CEPR and / October 03, 2013
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Politico Says Republicans Push for Budget Cuts to Slow Growth and Raise UnemploymentDean Baker / October 03, 2013
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Are Our Parents Stealing from Our Kids? No, They're NotDean Baker
The Business Desk (PBS NewsHour), October 2, 2013
Dean Baker / October 02, 2013
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The Hill Can't Remember Way Back to 1995 When Republicans Controlled BOTH Houses of CongressDean Baker / October 02, 2013
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How We Know Protectionists Control Trade Policy: The Case of Medical TradeDean Baker / October 02, 2013
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The Debt Ceiling Intelligence Test for the Wall Street BoysDean Baker / October 01, 2013