This is J. Bradford DeLong's Typepad Profile.
Join Typepad and start following J. Bradford DeLong's activity
Join Now!
Already a member? Sign In
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
Image
**Gnosis creates the "Stag Hunt" mosaic in the "House of the Rape of Helen" in Pella, Kingdom of Macedonia: **Wikipedia**: [Stag Hunt Mosaic](http://en.wikipedia.org/wiki/Stag_Hunt_Mosaic): >The Stag Hunt mosaic (c. 300 BCE) by Gnosis is a mosaic from a wealthy home of the late 4th century BC, the so-called 'House of the Abduction of Helen' (or 'House of the Rape of Helen'), in Pella, the capital of the Macedonian Kingdom. It is now in the Pella Archaeological Museum. The emblema is bordered by an intricate floral pattern, which itself is bordered by stylized depictions of waves. The mosaic is a pebble mosaic with stones collected from beaches and riverbanks which were set into cement. As was perhaps often the case, the mosaic does much to reflect styles of painting. The light figures against a darker background may allude to red figure painting. The mosaic also uses shading, known to the Greeks as skiagraphia, in its depictions of the musculature and cloaks of the figures. This along with its use of overlapping figures to create depth renders the image three dimensional. >It is often wondered if Gnosis, whose signature ('Gnosis epoesen', i.e. Gnosis created) is the first known signature of a mosaicist, could... Continue reading
Posted 1 hour ago at Brad DeLong's Grasping Reality...
Steve M.: Kathleen Paker: The Republicans Forced Palin to Embarrass Herself Continue reading
Posted 1 hour ago at Links
Michelle Goldberg: Jonathan Chait and the New PC Continue reading
Posted 4 hours ago at Links
Given the inability of the Federal Reserve to attain traction at the ZLB, its current frame of mind--which appears to be doing certainty-equivalence policy--makes no sense to me. Certainty-equivalence is appropriate only with a symmetric loss function and a symmetric ability to compensate for deviations on either side of the target. We do not have either of those. Has there been an explanation of why the Federal Reserve's policy is appropriate given the asymmetry of the loss function and the asymmetry of the control levers that I have missed? If so, where is it? **Tim Duy**: [While We Wait For Yet Another FOMC Statement](http://economistsview.typepad.com/timduy/2015/01/while-we-wait-for-yet-another-fomc-statement.html): "The Fed recognizes that hiking rates prematurely... >...to 'give them room' in the next recession is of course self-defeating. They are not going to invite a recession simply to prove they have the tools to deal with another recession. The reasons the Fed wants to normalize policy are, I fear, a bit more mundane: (1) They believe the economy is approaching a more normal environment with solid GDP growth and near-NAIRU unemployment. They do not believe such an environment is consistent with zero rates. (2) They believe that monetary policy operates with long and variable lags.... Continue reading
Posted 5 hours ago at Brad DeLong's Grasping Reality...
**Jeet Heer**: [The New Republic's Legacy on Race: From Du Bois to the Bell Curve](http://www.newrepublic.com/article/120884/new-republics-legacy-race): "Between the late ’30s and the mid-’70s... >...*The New Republic* was one of the best magazines outside the black press in its coverage of the rise of the civil rights movement. Thomas Sancton, Sr., managing editor from 1942–1943, was a particularly radical advocate, holding FDR’s feet to the fire for his compromises with the Jim Crow South, and doing brave reporting on the Detroit race riots of 1943.... [But when] the country’s conversation about race turned to more ambiguous debates over busing, affirmative action, and overcoming economic hurdles. The owner who would oversee that new era was Martin Peretz... Continue reading
Posted 5 hours ago at Brad DeLong's Grasping Reality...
**Jaume Ventura**: [Capital in the 21st Century](http://www.voxeu.org/article/capital-21st-century): "On 19th December... >...CEPR and the Bank of England hosted a joint workshop to discuss Thomas Piketty’s seminal work ‘Capital in the 21st Century’. Chaired by the Bank’s Chief Economist Andy Haldane, the panel comprised Orazio Attanasio, Tim Besley, Peter Lindert, Thomas Piketty and Jaume Ventura... Continue reading
Posted 5 hours ago at Brad DeLong's Grasping Reality...
**Gernot Wagner**: [Climate Shock: It's Not Over 'Til the Fat Tail Zings](http://www.lse.ac.uk/GranthamInstitute/event/climate-shock-its-not-over-til-the-fat-tail-zings/): "Presenting his new book ‘Climate Shock’... >...co-authored with Martin Weitzman. If you had a 10 percent chance of having a fatal car accident, you’d take necessary precautions. If your finances had a 10 percent chance of suffering a severe loss, you’d re-evaluate your assets. So if we know the world is warming and there’s a 10 percent chance this might eventually lead to a catastrophe beyond anything we could imagine, why aren’t we doing more about climate change right now? We insure our lives against an uncertain future--why not our planet?... Continue reading
Posted 5 hours ago at Brad DeLong's Grasping Reality...
Jeet Heer: "The Bell Curve was perhaps the most impactful, and unfortunate, example of the magazine’s embrace of [The New Republic's racial mythmaking..." Continue reading
Posted 5 hours ago at Links
Jeet Heer: "Roughly half of the 28 Post staffers Shalit interviewed wrote in to say that she had either lied about what they told her or misrepresented them; The New Republic printed only a fraction of these complaints..." Continue reading
Posted 5 hours ago at Links
Jeet Heer: The New Republic's Legacy on Race: From Du Bois to the Bell Curve Continue reading
Posted 5 hours ago at Links
Posted 5 hours ago at Links
Paul Krugman: Those Radical VSPs Continue reading
Posted 5 hours ago at Links
Avery Palmer: States with Weak Gun Laws and Higher Gun Ownership Lead Nation in Gun Deaths, New Data for 2013 Confirms Continue reading
Posted 5 hours ago at Links
Mark Ames: Andrew Sullivan is not the Future of Journalism Continue reading
Posted 5 hours ago at Links
Alan S. Blinder: Beware of Woolly-Minded Attacks on the Fed Continue reading
Posted 5 hours ago at Links
Fredrik deBoer: I don’t know what to do, you guys Continue reading
Posted 5 hours ago at Links
Joseph E. Stiglitz: Europe’s Lapse of Reason Continue reading
Posted 5 hours ago at Links
Peter Weinhart: "Augustine is the first to address rape victims with consolatio, and in so doing he turns consolation into social critique: [Melanie Webb] ‘his consolation cannot simply be an exhortation to rape-survivors to re-orient themselves within a society that regards them with shaming suspicion. It must also be an... Continue reading
Posted 9 hours ago at Links
Image
**Readings:** * **FastFT**: [Greek bond rout deepens as Syriza fears mount - fastFT](http://www.ft.com/intl/fastft/268792) * **Paul Krugman**: [Greece: Think Flows, Not Stocks](http://krugman.blogs.nytimes.com/2015/01/26/greece-think-flows-not-stocks/) * **Paul Krugman**: [Thinking About the New Greek Crisis](http://krugman.blogs.nytimes.com/2015/01/28/thinking-about-the-new-greek-crisis/) * **Daniel Davies**: [Greece, the EU and Aunt Agatha](https://medium.com/bull-market/greece-the-eu-and-aunt-agatha-ea6d79c0bdd3) * **Daniel Davies**: [Greek games and scenarios](http://crookedtimber.org/2015/01/25/greek-games-and-scenarios/) * **Barry Eichengreen**: [Eurozone breakup would trigger the mother of all financial crises](http://www.voxeu.org/article/eurozone-breakup-would-trigger-mother-all-financial-crises) **Sokrates Son of Sophroniskos:** You are out of your century, and out of your country... **Titus Pomponius Atticus:** I claim this to be my country, and here by the docks of the Piraeus to be my place. I am not called "Atticus" for nothing, you know... **Axiothea:** Why are you called "Atticus"? It doesn't sound like a very Roman name... **Atticus:** I made it up. My father had only two names--good old Titus Pomponius, no claims to triple-barreled noble senatorial-class names he, just an equestrian. **Sokrates:** So you have a triple-barreled name because? **Atticus:** My mother wanted it: Caecilia Metella--one of the Metelli. Her family was at the top in the years surrounding my birth, providing the Republic with seven consuls in the generation between 123 BC and 98 BC: Quintus Caecilius Metellus Balearicus, Lucius Caecilius Metellus Dalmaticus, Lucius Caecilius Metellus... Continue reading
Posted 10 hours ago at Brad DeLong's Grasping Reality...
14
Jaume Ventura: Capital in the 21st Century Continue reading
Posted 12 hours ago at Links
Image
###The Rebalancing Challenge### **J. Bradford DeLong :: U.C. Berkeley** *OëNB Conference on European Economic Integration :: Vienna :: November 24-25, 2014* There is an important purpose of an opening keynote talk like this one. Its task is to start from first principles and then give a large-scale bird's-eye overview to what is to come. We have panels to come on monetary policy, balance-sheet adjustment and growth, inequality and its role in generating internal macroeconomic imbalances, external macroeconomic rebalancing, and banking sector regulation. They all presuppose that Europe, and within it the regions of Central, Eastern, and Southeastern Europe that we focus on here, need not just higher aggregate demand in the short-term but more. They need large-scale sectoral rebalancing. And that sectoral rebalancing needs to be rapid. Why? Because these economies will not grow smoothly without deep structural reforms--in these reforms need to be not just at the bottom but at the top, reforms of institutions, governance structures, and regulatory practices and mandates need to be carried out as well. Note that the need, while urgent in Central Europe, Eastern Europe, and Southeastern Europe, is not by any means more urgent here then in the other regions of Europe. So... Continue reading
Posted 12 hours ago at Brad DeLong's Grasping Reality...
Image
**World War II Today**: [29 January 1944: Bitter struggle as Red Army encircles Breslau](http://ww2today.com/29-january-1944-bitter-struggle-as-red-army-encircles-breslau): >The tide of war had turned decisively against the Germans and they faced defeat after defeat, retreat after retreat. For the captured German soldier, especially if they belonged to the SS, the fate was in many cases even worse. Some accounts refer to them being ‘given a beating’ but others are more explicit. One female Red Army soldier recalled that any captured German soldiers: >>were not shot dead – that would have been too easy for them, we stabbed them like pigs with spears, chopped them to pieces. I saw it with my own eyes. I waited for the moment when their eyes bulged with pain. >She felt no mercy ‘They burned my mother and my young sister at the stake in the middle of the village’. >German soldiers were under few illusions about their potential fate and many saved the last bullet for themselves. Others made desperate attempts to escape to the west. Paul Arnhold was a Pioneer officer who had been on the run after his Panzer Corps had fallen apart. With three others he crossed Poland on foot, much of the journey across... Continue reading
Posted 12 hours ago at Brad DeLong's Grasping Reality...
Apropos of Jonathan Chait's ["Not a Very P.C. Thing to Say"](http://nymag.com/daily/intelligencer/2015/01/not-a-very-pc-thing-to-say.html) and Hanna Rosin's ["The Patriarchy Is Dead"](http://www.slate.com/articles/double_x/doublex/2013/09/the_end_of_men_why_feminists_won_t_accept_that_things_are_looking_up_for.html), some constructive advice from Daniel Davies: **Daniel Davies**: [Rules for Contrarians: 1. Don’t whine. That is all](http://crookedtimber.org/2009/10/22/rules-for-contrarians-1-dont-whine-that-is-all/): "I like to think that I know a little bit about contrarianism... >...So I’m disturbed to see that people who are making roughly infinity more money than me out of the practice aren’t sticking to the unwritten rules of the game.... The whole idea of contrarianism is that you’re... setting out to annoy people.... If annoying people is what you’re trying to do, then you can hardly complain when annoying people is what you actually do. If you start a fight, you can hardly be surprised that you’re in a fight. It’s the definition of passive-aggression and really quite unseemly, to set out to provoke people, and then when they react passionately and defensively, to criticise them for not holding to your standards of a calm and rational debate. If [Levitt and Dubner's] *Superfreakonomics* wanted a calm and rational debate, this chapter would have been called something like: ‘Geoengineering: Issues in Relative Cost Estimation of SO2 Shielding’ [rather than the book being subtitled 'Global Cooling'],... Continue reading
Posted 12 hours ago at Brad DeLong's Grasping Reality...
Image
It is a true fact that Jon Chait's extremely ill-advised *New York Magazine* article crossed my desk at the same moment that I was watching [this](http://www.dailycal.org/2015/01/20/occupy-syllabus/) equally ill-advised piece by Meg Perrett and Rodrigo Kazuo go by. They try to condemn an eight-person classical moral-philosopher reading list for various sins against leftism[1](#sins). The interesting thing is that they get no traction whatsoever, even though they are here at the University of California Berkeley at what Jonathan Chait imagines to be the hotbed of American crazy leftism. Belle Waring administers the smackdown: **Belle Waring**: [Jonathan Chait: Political Correctness Gone Mad OMG I’m Scared](http://crookedtimber.org/2015/01/29/jonathan-chait-political-correctness-gone-mad-omg-im-scared/): "By now you’ve probably heard that Jonathan Chait has written an article for *New York Magazine*.... >Chait has about 75% of perhaps two points, but the wheat/arsenic-laced chaff ratio is bad. Very bad.... There is some element of pulling rank in questions about privilege.... [In] campus culture.... Chait cites examples of straight-up vandalism in which people’s signs were torn from their hands b/c they expressed the wrong views. This, plus the dude in the opening para, merits one full argumentative point.... >[But] Jonathan Chait’s whining about “Political Correctness gone mad,” or, as I like to call it: >>people... Continue reading
Posted 13 hours ago at Brad DeLong's Grasping Reality...
Image
**Over at [Equitable Growth](http://EquitableGrowth.org)--[The Equitablog](http://equitablegrowth.org/blog)** * [Over at Project Syndicate: What Failed in 2008?](http://equitablegrowth.org/2015/01/28/project-syndicate-failed-2008/) * [The Macroeconomic Situation and Macroeconomic Policy: Insiders and Outsiders: Focus](http://equitablegrowth.org/2015/01/28/macroeconomic-situation-macroeconomic-policy-insiders-outsiders-focus/) * [Macroeconomics: Listening to Reality: A Note from Twitter I Want to Save](http://equitablegrowth.org/2015/01/28/macroeconomics-listening-reality-note-twitter-want-save/) * [Tim Duy: While We Wait For Yet Another FOMC Statement](http://equitablegrowth.org/2015/01/28/morning-must-read-tim-duy-wait-yet-another-fomc-statement/) * **Nick Bunker**: [The federal budget, interest rates, and savings gluts](http://equitablegrowth.org/news/federal-budget-interest-rates-savings-gluts/) **Plus:** * [Things to Read at Nighttime on January 22, 2015](http://equitablegrowth.ms.techprogress.org/?p=8908) **Must- and Shall-Reads:** * **Loren Adler**: [What the CBO Budget Outlook says about the ACA](https://storify.com/onceuponA/what-the-cbo-budget-outlook-says-about-the-aca) * **Phillip Rucker**: ["If he runs again in 2016, Romney is determined to re-brand himself as authentic..."](http://www.washingtonpost.com/politics/romney-ahead-of-2016-run-now-calls-utah-home-talks-openly-about-mormon-influence/2015/01/27/c3875940-a4ef-11e4-a06b-9df2002b86a0_story.html) <--Greatest line ever! * **Alan Beattie**: [Greece: the case against ‘structural reform’](http://blogs.ft.com/the-world/2015/01/the-greek-economy-the-case-against-structural-reform/) * **Yanis Varoufakis**: [Finance Ministry slows blogging down but ends it not](http://yanisvaroufakis.eu/2015/01/27/finance-ministry-slows-blogging-down-but-ends-it-not/) * **William Cohan**: ["These gifts to Wall Street came without a requirement that it change any of the most fundamental aspects of the way it does business..."](http://www.theatlantic.com/magazine/archive/2015/01/wall-street-rises-again/383514/) * **Martin Wolf**: ["Creditors have a moral responsibility to lend wisely. If they fail to do due diligence on their borrowers, they deserve what is going to happen. In the case of Greece, the scale of the external deficits, in particular, were obvious. So, too, was... Continue reading
Posted yesterday at Brad DeLong's Grasping Reality...