Current / History

Murdering History

Well, this is a bold statement from Scott Walker, Republican governor of Wisconsin and presidential frontrunner… In August 1981, after contract talks between the federal government and the union for the controllers stalled, nearly 13,000 controllers walked off the job. Just seven months into his first term, Reagan called the strike illegal and demanded they … Continue reading

Aviation / Current / Economics

Modern Indentured Servitude

A friend of mine, the aviation expert for this blog, began screaming at me last night that economists have no clue what they are talking about. This friend is wrong, of course, yet the ire triggered by this entry by Paul Krugman…     My soon-to-be-colleague Branko Milanovic writes forcefully against the term “human capital”; Elizabeth Bruenig … Continue reading

Current / Economics / History

Needed: Humility and Compassion (in that Order)

You’ve got to be kidding me: OK, this is amazing, and not in a good way. Greek talks with finance ministers have broken up over this draft statement, which the Greeks have described as “absurd.” It’s certainly remarkable. On my reading, here’s the key sentence: The Greek authorities committed to ensure appropriate primary fiscal surpluses … Continue reading

Current / Economics / History

International Myths

Since I read Dean Baker’s take on hyperinflation hysteresis, I have been taken by his epithet towards know-nothing Germans: [Eduardo Porter] argued that: “conditioned by memories of hyperinflation after World War I, they still fear higher inflation.” Hmmm, “memories of hyperinflation?” Let’s see, we’re talking about a burst of hyper-inflation that took place in the … Continue reading