I'd say this is the just the tip of the iceberg. Old hydraulic Keynesianism from the 1960s was already a pretty implausible model. But what's happened since 2009 involves not just one, but at least five new types of voodoo . . .
"The great achievements of capitalism have primarily benefited the ordinary citizen, not the wealthy"
Always worth remembering.
The "hot hand" was strongly suspected, then famously disproved, and now, apparently, has been proved again.
So much for the "science was settled".
"If politicians want to know why lower-skilled laborers struggle to find employment, they need to look past imports from China and Mexican immigration and look at their own policies that are making it more and more expensive for businesses to hire people in this country."
Link courtesy of a comment by JK Brown.
Related: "Globalization isn't killing factory jobs. Trade is actually why manufacturing is up 40%."
Research beginning in the late 1980s documents the empirical regularity that the slope of the yield curve is a reliable predictor of future real economic activity.
One could almost think that centralized planning of hundreds of billions of dollars of activity is . . . really difficult.
"Obamacare's Catch 22: The health care law's advocates are opposing the industry consolidation to which the law gave rise."
"The big Obamacare bubble is about to explode".
"Who's Gaming Obamacare? Better to Ask: Who Isn't?"
Although terribly out of favor with the Trumpsters National Review continues to provide fine service to the conservative movement. The analysis here is an excellent case in point.
I had noticed this, too, but Professor Peter Gordon puts it far better than I would have:
But we now live in another world. Whether it is Clinton, Trump, Sanders or Obama, they are fond of discovering (and championing) free lunches (trade protectionism, free college, banning immigration, overtime for everyone, free child care, energy independence, etc., etc., etc.).
The locals in my part of the world are not to be undone. Friend Brad H. notes that the Los Angeles Economic Development Corporation has discovered the best deal yet: Raise the sales tax by one-half cent and "put billions back into the economy". How does that really work? There are no opportunity costs. In fact, costs are benefits. Spending is a benefit.
Related: Tyler Cowen's post, "What is the opportunity cost of additional government borrowing?"
Opportunity cost remains an underrated idea in economics.
Amen to that.
A "typically Democratic solution" indeed.
Surprise, surprise! Conservative economists do actually know some things.