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J. Bradford DeLong
Berkeley, CA
J. Bradford DeLong is an economist teaching at the University of California at Berkeley.
Interests: history, economic history, information age, political economy, grand strategy, international relations, material culture., information technology, economics
Recent Activity
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**Over at [Equitable Growth](http://EquitableGrowth.org): Must-Reads:** * _[What More Has to Happen Before the Fed Concludes That This Looks Like Yet Another Failed Interest-Rate Liftoff? - Equitable Growth][]_ * _[The Federal Reserve: I Repeat Myself - Equitable Growth][]_ * **Nick Bunker**: _[Weekend reading: “How many Big Macs will that minimum wage... Continue reading
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**Barack Obama**: _[Dem Convention Speech][]_: >Hello, America. >Twelve years ago tonight, I addressed this convention for the very first time. >You met my two little girls, Malia and Sasha – now two amazing young women who just fill me with pride. You fell for my brilliant wife and partner Michelle,... Continue reading
**Live from the Republicans' Self-Made Gehenna: The Houston Chronicle**: _[These Unsettling Times Require a Steady Hand: That's Not Donald Trump][]_: >**Houston Chronicle Editorial Board endorses Hillary Clinton:** On Nov. 8, 2016, the American people will... choose between one candidate with vast experience and a lifelong dedication to public service and... Continue reading
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My colleague and neighbor Michael O'Hare is fed up with and denounces Berkeley NIMBYist privilege. I have two reactions: 1. There are many worse things in this fallen sublunary sphere than herbal teabaggery, Michael. Come to Kansas and Missouri to see them! Berkeley is, all in all, a blessed and... Continue reading
[Wye Oak covers Kate Bush: "Running Up That Hill"](https://www.youtube.com/watch?v=a0ohzHjcLVk): Continue reading
**Live from the Republicans' Self-Made Gehenna: Josh Barro**: _[Khizr Khan's Speech Was Telling about the US][]_: >I am angry at Donald Trump, and I am angry at the people who voted for him. But most of all I am angry at the senior Republicans who are standing by and acting... Continue reading
**Must Watch: Joel Mokyr** (2015): _[Culture of Growth: Origins of the Modern Economy][]_: [Culture of Growth: Origins of the Modern Economy]: https://www.youtube.com/watch?v=wNbe7uwbiKE&ab_channel=TECprogram Continue reading
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I repeat myself: to begin a tightening cycle and a process of interest-rate increases in December 2016--in fact, to announce in mid 2014 the end of further moves toward monetary expansion and a bias toward tightening as soon as it is not grossly imprudent--requires that one place only an infinitesimal... Continue reading
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If you had told the Federal Reserve at the start of last December that 2015Q4, 2016Q1, and 2016Q2 were going to come in at 0.9%, 0.8%, and 1.2%, respectively, a rational Fed would not only have not raised interest rates in December, they would have announced that they would not... Continue reading
**Comment of the Day: Sanjait**: _[Let's dispel once and for all][]_: >Roy tries to play the victim, but he gives away the act in talking about his fervent support for Rubio. [Let's dispel once and for all]: http://www.bradford-delong.com/2016/07/live-from-the-republicans-self-made-gehenna-zack-beauchamp-finds-a-republican-validator-one-of-those-who-has-spent-m.html?cid=6a00e551f08003883401bb0923a477970d#comment-6a00e551f08003883401bb0923a477970d >>Let's dispel once and for all with the fiction that Barack Obama... Continue reading
**Must-Read: Ananya Roy**: _[In Defense of "Poverty"][]_: >A glimpse of the public assistance bureaucracy that the poor must navigate.... [In Defense of "Poverty"]: http://items.ssrc.org/in-defense-of-poverty/ >Despite being fluent in sophisticated understandings of poverty and inequality, the... middle-class social justice professionals were thoroughly disoriented by the sheer dehumanization.... Shunted from office to... Continue reading
**Must-Read: Olivier J. Blanchard and Lawrence H. Summers (1986)**: [Hysteresis and the European Unemployment Problem](http://www.nber.org/papers/w1950): >European unemployment has been steadily increasing for the last 15 years and is expected to remain very high for many years to come.... >We argue that this fact implies that shocks have much more persistent... Continue reading
**Must-Read: Jim Nunns et al.** (2015): _[An Analysis of Donald Trump's Tax Plan][]_: [An Analysis of Donald Trump's Tax Plan]: http://www.taxpolicycenter.org/sites/default/files/alfresco/publication-pdfs/2000560-an-analysis-of-donald-trumps-tax-plan.pdf#10 >Donald Trump’s tax proposal... would significantly reduce marginal tax rates on individuals and businesses, increase standard deduction amounts to nearly four times current levels, and curtail many tax expenditures.... Continue reading
**Must-Read: Michael Kalecki** (1943): [Political Aspects of Full Employment](http://delong.typepad.com/kalecki43.pdf): >Most economists are now agreed that full employment may be achieved by government spending.... There is a political background in the opposition to the full employment doctrine, even though the arguments advanced are economic.... >The reasons for the opposition of the... Continue reading
**Comment of the Day: Jorgenson**: _[Not a Legacy][]_: >It is not a legacy he inherited. It is a reality built by all those Republicans who thought they could "ride the tiger" of white resentment. [Not a Legacy]: http://www.bradford-delong.com/2016/07/live-from-the-republicans-self-made-gehenna-zack-beauchamp-finds-a-republican-validator-one-of-those-who-has-spent-m.html?cid=6a00e551f08003883401bb0923a477970d#comment-6a00e551f08003883401bb0923a477970d >Roy is more perpetrator than victim. >Marco Rubio is no loss to... Continue reading
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**Over at [Equitable Growth](http://EquitableGrowth.org): Must-Reads:** * **John Maynard Keynes** (1936): [The General Theory of Employment, Interest and Money by John Maynard Keynes](https://www.marxists.org/reference/subject/economics/keynes/general-theory/ch24.htm) * **Jacob Vigdor et al.**: _[Report on the Impact of Seattle's Minimum Wage Ordinance][]_ * **Cosma Shalizi** (2014): _[Review of Oliver Morton (2008): "Eating the Sun: How Plants... Continue reading
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**Adrienne Wilmots Lerner**: _[Black Tom Explosion][]_: >The Black Tom explosion was the peak act of German sabotage on American soil during the First World War. On July 29, 1916, German agents set fire to a complex of warehouses and ships in the New York harbor that held munitions, fuel, and... Continue reading
**Live from the Republicans' Self-Made Gehenna**: Yes, if Trump wins the election the Republicans *are* planning to invoke Amendment 25 on Inauguration Day. Why do you ask? Trump, talking about his time in Iowa, just said he won first place in the caucuses.— Sopan Deb (@SopanDeb) July 28, 2016 **Contitution**:... Continue reading
**Must-Read: John Maynard Keynes** (1936): [The General Theory of Employment, Interest and Money by John Maynard Keynes](https://www.marxists.org/reference/subject/economics/keynes/general-theory/ch24.htm): >Whilst, therefore, the enlargement of the functions of government, involved in the task of adjusting to one another the propensity to consume and the inducement to invest, would seem to a nineteenth-century publicist... Continue reading
**Must-Read: Cosma Shalizi** (2014): _[Review of Oliver Morton (2008): "Eating the Sun: How Plants Power the Planet"][1]_: >**Of Heliophagy:** I cannot remember the last time I read a popular science book with such enjoyment, or learned so much from it.... [1]: http://bactra.org/reviews/eating-the-sun.html >Our global civilization runs at something like 40... Continue reading
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Can This Capitalism Be Saved? Here is piece of mine left on the cutting room floor elsewhere. So I might as well throw it up here. Reviewing: **Robert Reich**: _Saving Capitalism: For the Many, Not the Few_ Robert Reich’s _Saving Capitalism: For the Many, Not the Few_ is an excellent... Continue reading
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**W. Arthur Lewis** (1977): _[The Evolution of the International Economic Order]_ >We must therefore turn to economic explanations. The most important... is the dependence of an industrial revolution on a prior or simultaneous agricultural revolution... already familiar to eighteenth-century economists, including Sir James Steuart and Adam Smith. In a closed... Continue reading
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Thinking About "Premature Deindustrialization": An Intellectual Toolkit I OK. Popping the distraction stack again. The very sharp Matthew Yglesias writes about: **Matthew Yglesias**: [Premature Deindustrialization: The New Threat to Global Economic Development][]: >In the popular imagination, the old industrial landscape has moved abroad to Mexico or to China, perhaps due... Continue reading
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**Live from Northern California:** "Code monkeys"--an insult to simians of all species: That's what I'm saying... I am still marveling at the fact that last spring it took Berkeley’s bCourses system six hours to read a table of 10,000 numbers off of the iClicker.com and put it into its own... Continue reading
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Poached: **Eric Lemieux**: _[This Day in Labor History: July 28, 1932][]_: >On July 28, 1932, the U.S. Army 12th Infantry regiment commanded by Douglas MacArthur and the 3rd Calvary Regiment, supported by six battle tanks commanded by Major George Patton violently evicted the Bonus Army from their Washington, D.C. encampment.... Continue reading