Steve Randy Waldman | |
---|---|
Born | 1970 (age 53–54) |
Nationality | American |
Academic career | |
Field | Cultural economics |
School or tradition | Danish Libertarian |
Alma mater | New College of Florida, University of Kentucky |
Website | http://interfluidity.com |
Steve Randy Waldman (born 1970) is a computer programmer and writer known for his commentary on contemporary economics at his blog Interfluidity. Educated at the New College of Florida, and University of Kentucky, [1] Waldman is a Java programmer and wrote the c3p0 tool. He is most well known for his economics posts at Interfluidity, which have been cited by Paul Krugman, [2] Tyler Cowen, [3] Simon Wren-Lewis, [4] The Economist, [5] CNBC, [6] the National Review, [7] Justin Fox of Time magazine, [8] and Matt Levine. [9] Waldman supports a basic income [10] (or other ways to provide a strong social safety net) and otherwise describes himself as "Danish libertarian".
Waldman is known for his criticism of financial regulation: [11] James Kwak quotes "An enduring truth about financial regulation is this: Given the discretion to do so, financial regulators will always do the wrong thing." [12] Paul Krugman of the New York Times often cites Waldman; he talks about him 'going medieval' on Ezra Klein, [13] and another time: "we are indeed, as Steve Randy Waldman says, all dorks". [14]
The writer and novelist Adelle Waldman [15] [16] is Waldman's sister. His mother, Jacqueline Waldman, was a chemistry professor at Goucher College. [17]
Deregulation is the process of removing or reducing state regulations, typically in the economic sphere. It is the repeal of governmental regulation of the economy. It became common in advanced industrial economies in the 1970s and 1980s, as a result of new trends in economic thinking about the inefficiencies of government regulation, and the risk that regulatory agencies would be controlled by the regulated industry to its benefit, and thereby hurt consumers and the wider economy. Economic regulations were promoted during the Gilded Age, in which progressive reforms were claimed as necessary to limit externalities like corporate abuse, unsafe child labor, monopolization, and pollution, and to mitigate boom and bust cycles. Around the late 1970s, such reforms were deemed burdensome on economic growth and many politicians espousing neoliberalism started promoting deregulation.
Paul Robin Krugman is an American economist who is the Distinguished Professor of Economics at the Graduate Center of the City University of New York and a columnist for The New York Times. In 2008, Krugman was the sole winner of the Nobel Memorial Prize in Economic Sciences for his contributions to new trade theory and new economic geography. The Prize Committee cited Krugman's work explaining the patterns of international trade and the geographic distribution of economic activity, by examining the effects of economies of scale and of consumer preferences for diverse goods and services.
John R. Levine is an Internet author and consultant specializing in email infrastructure, spam filtering, and software patents.
A liquidity trap is a situation, described in Keynesian economics, in which, "after the rate of interest has fallen to a certain level, liquidity preference may become virtually absolute in the sense that almost everyone prefers holding cash rather than holding a debt which yields so low a rate of interest."
Eurosclerosis is a term coined by German economist Herbert Giersch in the 1970s, to describe a pattern of economic stagnation in Europe that may have resulted from government over-regulation and overly generous social benefits policies. The term alludes to the medical term sclerosis, and is a rhyme of the archaic term neurosclerosis.
Rebecca "Becky" Quick is an American television journalist/newscaster and co-anchorwoman of CNBC's financial news shows Squawk Box and On the Money.
Tyler Cowen is an American economist, columnist, and blogger. He is a professor at George Mason University, where he holds the Holbert L. Harris chair in the economics department.
Stephen Moore is an American conservative writer and television commentator on economic issues. He co-founded and served as president of the Club for Growth from 1999 to 2004. Moore is a former member of the Wall Street Journal editorial board. He worked at The Heritage Foundation from 1983 to 1987 and again since 2014. Moore advised Herman Cain's 2012 presidential campaign and Donald Trump's 2016 presidential campaign.
Economic stagnation is a prolonged period of slow economic growth, usually accompanied by high unemployment. Under some definitions, slow means significantly slower than potential growth as estimated by macroeconomists, even though the growth rate may be nominally higher than in other countries not experiencing economic stagnation.
Peter David Schiff is an American stockbroker, financial commentator, and radio personality. He co-founded Echelon Wealth Partners in Canada. He is involved in other financial services companies including Euro Pacific Asset Management, as an independent investment advisor, and Schiff Gold. He has criticised US banking and credit practices.
The Theory of Interstellar Trade is a paper on hypothetical space trade written in 1978 by the economist Paul Krugman. The paper was first published in March 2010 in the journal Economic Inquiry. He described the paper as something he wrote to cheer himself up when he was an "oppressed assistant professor" caught up in the academic rat race.
Lemon socialism is a pejorative term for a form of government intervention in which government subsidies go to weak or failing firms, with the effective result that the government absorbs part or all of the recipient's losses. The term derives from the conception that in socialism the government may nationalize a company in its entirety, while in lemon socialism the company is allowed to keep its profits but its losses are shifted to the taxpayer.
The Great Stagnation: How America Ate All the Low-Hanging Fruit of Modern History, Got Sick, and Will (Eventually) Feel Better is a pamphlet by Tyler Cowen published in 2011. It argues that the American economy has reached a historical technological plateau and the factors that drove economic growth for most of America's history are no longer present. These figurative "low-hanging fruit" include the cultivation of much free, previously unused land, technological breakthroughs in transport, refrigeration, electricity, mass communications, sanitation, and the growth of education. Cowen, a professor of economics at George Mason University, theorizes that these factors have contributed to stagnation in the median American wage since 1973.
Market monetarism is a school of macroeconomics that advocates that central banks use a nominal GDP level target instead of inflation, unemployment, or other measures of economic activity, with the goal of mitigating demand shocks such those experienced in the 2007–2008 financial crisis and during the post-pandemic inflation surge. Market monetarists criticize the fallacy that low interest rates always correspond to easy money. Market monetarists are sceptical about fiscal stimulus, noting that it is usually offset by monetary policy.
Adelle Waldman is an American novelist, columnist and blogger. Her first novel, The Love Affairs of Nathaniel P., was published in 2013.
In economics, secular stagnation is a condition when there is negligible or no economic growth in a market-based economy. In this context, the term secular means long-term, and is used in contrast to cyclical or short-term. It suggests a change of fundamental dynamics which would play out only in its own time. The concept was originally put forth by Alvin Hansen in 1938. According to The Economist, it was used to "describe what he feared was the fate of the American economy following the Great Depression of the early 1930s: a check to economic progress as investment opportunities were stunted by the closing of the frontier and the collapse of immigration". Warnings of impending secular stagnation have been issued after all deep recessions since the Great Depression, but the hypothesis has remained controversial.
The Love Affairs of Nathaniel P. is a novel by Adelle Waldman.
Bitcoin was designed by its pseudonymous inventor, Satoshi Nakamoto, to work as a currency, but its status as a currency is disputed. Economists define money as a store of value, a medium of exchange and a unit of account, and agree that bitcoin does not currently meet all these criteria.
Capital and Ideology is a 2019 book by French economist Thomas Piketty. Capital and Ideology follows Piketty's 2013 book Capital in the Twenty-First Century, which focused on wealth and income inequality in Europe and the United States.
The Rise and Fall of American Growth: The U.S. Standard of Living Since the Civil War is a non-fiction book by Robert J. Gordon, an American professor of economics at Northwestern University.