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Does Brook overlook Hamilton's skill at envisioning, crafting and selling compromises? I think not only of the Federalist papers, but also his success in establishing sound public credit.
David Brooks/Alexander Hamilton on COP21
David Brooks* on December 1 (I'm a bit late): I’ve been confused about this Paris climate conference and how the world should move forward to ameliorate climate change, so I séanced up my hero Alexander Hamilton to see what he thought. I was sad to be reminded that he doesn’t actually talk in h...
The case for wage subsidies from Edmund Phelps,
http://www.washingtonpost.com/blogs/wonkblog/wp/2013/12/11/nobel-winner-edmund-phelps-on-his-plan-to-help-low-wage-workers-without-raising-the-minimum-wage/
The EITC versus The Minimum Wage
Brad DeLong in 2004: ... I like the EITC. Come the Day of Wrath, my best pleading will be the role I played in 1993 in the Clinton administration in expanding the EITC. But the EITC is a program that uses the IRS to write lots of relatively small checks to tens of millions of relatively poor pe...
D'oh. I meant to type "bubble FREE framework for growth."
Summers Says History Will Favor Fed's QE `98 to 2'
Since Larry Summers is all the rage these days, here he is on how history will view QE:
Sorry, just discovered the exact clip I was quoting.
http://www.bloomberg.com/video/summers-long-time-since-rapid-healthy-growth-TKNBivCdQhGJXFtewR_S5A.html
Summers Says History Will Favor Fed's QE `98 to 2'
Since Larry Summers is all the rage these days, here he is on how history will view QE:
Bottom line for me: what "bubble framework for growth" does Summers have in mind? I don't think he completed his thought on that question in this interview -- I believe it's more than what he talked about which was regulatory uncertainty and lack of infrastructure investment, and general lack of fiscal stimulus.
Here's a paraphrase of what he said starting around the 6 minute mark:
I don't believe we need bubbles. What I believe very profoundly is:
Prior to the recession we had growth that was reliant on bubbles.
We have a framework for growth that is reliant on bubbles.
I am calling for a framework that makes bubble free growth possible.
Summers Says History Will Favor Fed's QE `98 to 2'
Since Larry Summers is all the rage these days, here he is on how history will view QE:
All Larry, all the time: http://larrysummers.com/
Summers Says History Will Favor Fed's QE `98 to 2'
Since Larry Summers is all the rage these days, here he is on how history will view QE:
You wrote "Richmond Federal Reserve President Dennis Lockhart" but of course you meant "Atlanta".
Crazy Fedspeak
There are two interviews of note hitting the wires today. One is with Richmond Atlanta Federal Reserve President Dennis Lockhart, in which he leaves open the possibility of a September beginning to the tapering process. Via the Wall Street Journal: Dennis Lockhart, in an interview with Market...
10% of US born workers have less than a high school degree. Of people employed in the US and having less than 8 years of education 70% are immigrants here legally. Depending on the data source employees can include undocumented immigrants, and this may be 30% of all immigrants. I'm not convinced that for those of us born in the US the US is a low wage country. If a large portion of low wage jobs are held by immigrants does mean the US is a low wage country -- no, it means the US offers opportunities superior to what the immigrants find in their country of origin.
The US is a Relatively Low Wage Country
I posted the graph showing that the US has the highest share of employees performing relatively low wage work at CBS News: Research shows the US is a low wage country
Mark - The peace of mind argument nature of insurance is what the government's lawyer failed to articulate in yesterday's mandate hearing. It was a big ouch.
Moral Hazard and the Health Insurance Mandate
I want to return to the argument about the need for an individual mandate. A post earlier today talks about adverse selection problems in the health insurance market. These problems are driven by the fact that individuals know more about their health status than insurance companies. But there is...
Seems highly improbable to me. To give just one example, I don't think Anglicans in the Global South have any interest in warming relations with Rome. They're ardent competitors in the mission field.
In making his case for centralization/Covenant Rowan has been trotting out this argument (that organization of the Anglican Communion hampers ecumenical talks) for some time. It strikes me that he simply thinks it sounds like a clever argument that he can add to his debating points. I don't see it as a great selling point for any province that's not sold on the Covenant. Are any provinces sold on the ABC's view of the Covenant -- that signing provinces are ceding power to the center?
What is Rowan Williams thinking?
Yesterday the Archbishop of Canterbury published his essay on the actions of the most recent General Convention of the Episcopal Church. You can find reactions to his essay here and here. For what it’s worth I’m still not sure what to think. The language he uses in this letter is relatively stro...
Tooting my own horn here's what I wrote about the plan a year ago:
http://www.episcopalcafe.com/daily/episcopal_church/the_churchwide_healthcare_feas.php
For those who didn't get it in the mail here is "Serving the Church in a Time of Change":
http://download.cpg.org/home/about_us/pdf/report_general_convention.pdf
This document
http://download.cpg.org/home/about_us/pdf/DHP_HOB08.pdf
says (p.13),
QUOTE/
Goal is for all employees to have the same or better benefits under the proposed DHP plans
The financial impact goal is that the cost to dioceses should be positive or cost-neutral
/UNQUOTE
Finally, isn't it interesting that you're echoing what national polls surrounding the health insurance debate say: people who have health insurance like their plan and don't what it to change.
Questions about Health Insurance in the Episcopal Church
I just got a nice mailing from the Church Pension Fund regarding the proposed legislation that would create a single national health plan for Episcopal Church employees. As of the moment each diocese (and in some places each parish) makes their own arrangements. In some cases the diocese decides...
Nick,
You are referring I suppose to the recent mailing from CPG, Serving the Church in a Season of Change.
In Appendix A p. 2 the question is framed as a social justice issue: "Perhaps it is time for the Church to remember the words of our baptismal covenant and require pensions [I'm suggesting by the same argument health insurance could be inserted here] for its lay employees, just as it does for its clergy employees -- as a matter of justice and dignity and a step toward parity for all persons who serve the church. [Appendix B is the appendix that goes into more detail on health insurance.]
As you observe a requirement to insure lay employees would impact the budgets of churches that have not voluntarily insured their lay employees. I want to underscore that the response of many of these churches is likely to be to reduce their number of employees or cut hours of individuals so they are treated as part timers not subject to the mandate. Ex post you may have achieved parity, but it would be a stretch to call the consequences justice or dignified.
As far as how fast premiums would increase year-to-year my guess is tha in the long run just as fast they would if the national plan does not come into effect -- general health care inflation will dictate that. The difference, I think, is what will happen in the short term. I tend to believe the CPG's analysis [even setting aside the effect of a possibly healthier lay group, you've got administrative savings, buying power savings...] that over the denomination as a whole the average premium initially to a jump down, perhaps several jumps down as the plan rolls out in the first couple of years.
Your mileage may vary of course -- That is to say, some dioceses will greatly benefit, others less so, and some may even end up worse off (CPG seems to be saying premiums will vary regionally and that no where will premiums go up, but you would be losing your freedom to leave the plan if it suits you later). (I should add that if I recall correctly dioceses would remain free to subsidize premiums to parishes, but to discriminate the subsidy between clergy and lay.)
I will interested to see if the vote on the resolution follows rather narrow economic interests or not.
Questions about Health Insurance in the Episcopal Church
I just got a nice mailing from the Church Pension Fund regarding the proposed legislation that would create a single national health plan for Episcopal Church employees. As of the moment each diocese (and in some places each parish) makes their own arrangements. In some cases the diocese decides...
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