Danny Cardwell's picture

    Snowy Roofs And Cheap Oil

    A few years ago my wife and I had a new roof put on our house. During a casual conversation with one of the contractors I learned that snow can be much more damaging to a roof than rain. The heat that rises through the attic or crawl space can cause ice dams. Once ice dams are formed water seeps into the crevices of shingles and flashings. The picturesque snow that sits peacefully atop your house can do more damage than the heavy rains that accompany violent tropical storms and hurricanes.

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    Doctor Cleveland's picture

    Your New Year's Public Domain Report for 2016

    Happy New Year! It's Public Domain Day, the first day of the calendar year, on which people in other countries get new works of art and learning added to the public domain for everyone to use. And on the first day of the new year we in the United States get ...

    Zilch. Nada. Niente. Nothing.

    Again.

    Doctor Cleveland's picture

    What Is a "Good" College? Two Tentative Answers

    Sometimes, because of my job, people ask me advice about choosing colleges. It's always nice to be helpful, but talking about college reputations can be a minefield. Obviously, you learn quickly that you should never put any college or university down, but that's not enough. People can also get very prickly when you don't praise a particular college enough.

    Michael Maiello's picture

    What Ruth Marcus and Brookings Don't Get About Microeconomics

    Thanks to Hal for referencing The Washington Post's Ruth Marcus on Hillary Clinton the other day.  I don't read Marcus too regularly, but when I do, it reminds me why not reading her is probably an IQ booster.

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    Michael Maiello's picture

    Our Continued Demand Slump

    The world economy still suffers from a global lack of demand.  That's what caused the market correction in China that sparked a (temporary?) contagion in the rest of the world.  When it comes to the economic basics -- energy, grains and metals, everything's in a bear market.  The Daily Beast asked me to write about the markets and I took my stab. Basically, I think that China is deflating too early.

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    Michael Maiello's picture

    Financial Illiteracy and Bill Clinton's "Secret Company"

    The right wing is all agog about Bill Clinton's "secret" company called WJC LLC.  The "secret" company, which has twice incorporated itself with public documents naming Bill Clinton as its majority shareholder in two states (New York and Delaware), is not actually a secret company at all.

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    Michael Maiello's picture

    Re-Free Martha Stewart

    This week brought news that five large global banks had admitted to felonies and agreed to pay $5.6 billion in fines to the U.S. Treasury for colluding to rig global currency markets.  The amount of the fines captured headlines but the amounts are actually relatively small.

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    Michael Maiello's picture

    The Flash Crash Boy

    When I was at Forbes I learned that the American Stock Exchange, once known as "the curb," also had the nickname, "The Scam-ex."  This was where people bought and sold shares of subprime public companies and where insiders and bucket shops conducted pump and dump scams on retail investors.

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    Michael Maiello's picture

    How WalMart Fooled The World

    Yesterday, The Daily Beast asked me for my take on WalMart's big "wage hike." WalMart raised its starting wage to $9 an hour across all locations, with the goal of getting all of its 1.4 million employees to $10 an hour next year.  The company handled the PR very well.  From the press I saw, you'd think WalMart had grown a heart, that economic conditions had improved for our lowest wage workers and that the system basically works.

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    Doctor Cleveland's picture

    Against Rock Stars

    This summer, I went to a Cleveland Indians game which involved a pregame celebration for Johnny "Johnny Football" Manziel. [Full disclosure: I am a lifelong Boston sports fan living in Cleveland. Although I sometimes go to the Jake just to watch the Indians, I was there that night because my Red Sox were in town.] Everybody in the building seemed to be deliriously excited about Johnny Football. Everybody was making his little money-fingers gesture.

    Michael Maiello's picture

    Why Is Brookings Pushing Scammy Annuity Products?

    On Saturday morning, a Tweet from Brookings caught my eye.  It suggested “Longevity Annuities” would be a great solution to the post-pension problem of longevity risk.  This is such an unbelievably bad idea that my first thought was that some insurance company had corrupted Brookings.  I see no evidence of that, however.  It’s probably just a case of two Hamilton Project thinkers who are overly in love with private industry solutions to truly public problems.

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    Michael Maiello's picture

    The End of QE and the Bret Easton Ellis Era of Monetary Policy

    Quantitative Easing, we hardly knew ye, and now ye are gone without a lot of people even knowing what ye did or how ye did it. Well, here were some of your effects.

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    Doctor Cleveland's picture

    Career Advice from Actors to Academics

    It's that cruelest of seasons again for young scholars: job search season. In an annual fall ritual I've discussed in previous years, the list of jobs for new professors beginning next fall has recently been published, and people who want those jobs are now laboring over complicated job applications. As has been the case for many years, and especially since the Great Recession began, there are far fewer jobs than there are talented and qualified applicants.

    Doctor Cleveland's picture

    Donald Sterling, the NBA, and the Free Rider Problem

    Can the other 29 NBA owners force Donald Sterling to sell the LA Clippers? Let's put it another way: can the other 29 owners be forced to remain Donald Sterling's partner? Of course, private citizens shouldn't be forced to sell privately owned businesses. But how much of Sterling's business exists if you take away his association with those other 29 businesses? If you take away the other 29 teams, what does Sterling own?

    Ramona's picture

    But we don't need no gov'mint interference

    Hey all you smarties (and you know who you are), how about chewing on this for a while?  There was a time when we built things and got things done.  We did it as a nation, with national pride and national inclusion.  It felt like we were a real country.  What happened?

    Doctor Cleveland's picture

    Economy, Ecology, Efficiency, Catastrophe

    Flying during the winter months has become an increasingly dicey proposition in 21st-century America. I make a handful of work-related plane trips a year, but the ones I do make tend to be for things that can't be rescheduled easily and often can't be rescheduled at all. I'm sure this is true for travelers in other kinds of business, but it's certainly true for academics: if you don't get there on the right day, the thing you were traveling to do may simply never happen.

    Doctor Cleveland's picture

    Inflation and the Dragon

    One of the hardest things for many people to grasp during the Great Recession has been the idea that inflation is too low. We generally talk about inflation as pure economic evil, something that could never possibly be too low. But it is.

    If you say inflation is too low, some people will bring up the high inflation of the 1970s or, more hysterically, the hyper-inflation in Weimar Germany during the rise of the Nazis as proof that Inflation Is Bad. But that doesn't really make sense. Inflation is bad when it gets too high, but that doesn't make a modest amount of inflation bad. The sun is bad in Death Valley when it's 130 degrees, but that doesn't make sunshine a universal menace. 15% inflation would be a very bad thing, but that doesn't mean 1.5% inflation is a good thing. 130 degrees Fahrenheit is murderous, but so 13 degrees is also a killer. A lot of our public debate about inflation is like trying to treat a case of frostbite while people keep shouting that heat is a terrible thing and then angrily tell you a long story about forest fires.

    Ramona's picture

    Walmart, the Benevolent Provides Bins for Low-Wage Employees Food Drive

     

    Everybody knows the Walton family, the people who put the "Wal" in "Walmart", is the richest family in America.  They're so rich you would have to pile up more than 40% of the wealth in the entire United States to even be on the same level.  If each member of the family lived to be a thousand years old, they couldn't even begin to spend all of their fortune.  So asking them to pay their employees a living wage and a few measly benefits is like asking them to give up, say, 1/10,000th of their fortune.  (Don't quote me on that; I don't know that for absolute

    Ramona's picture

    Goodwill Misses the Meaning of Good Will

     

    When 19-year-old Andrew Anderson started working at the Goodwill store in East Naples, Florida, he thought his job was pretty cool. He was working in a place where poor and low-income people came to buy the things they couldn't afford anywhere else.  

    "It makes you feel amazing," he said, "makes you feel you can actually be the person to help them."  

    Doctor Cleveland's picture

    Larry Summers Is Not the Main Problem

    I'm as pleased as anyone that Larry Summers has withdrawn from consideration as the next Chair of the Fed. I thought he would do a terrible job. But Summers himself was never the real problem. His candidacy was only a symptom. The real problem is that we have a President who wanted to nominate Summers in the first place. Obama does not understand what's wrong with the American economy, and five years into his term, he persists in some basic misunderstandings.

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