Attention Economy


Monday, November 30, 2020

America’s Evolving Retail Landscape


The collapse of America’s middle class crushed department stores. Amazon and the pandemic are the final blows.
https://www.vox.com/recode/21717536/department-store-middle-class-amazon-online-shopping-covid-19 

Biden’s Highly-Qualified Economics Policy Team

Michael Strain notes:
https://www.bloomberg.com/opinion/articles/2020-11-30/cecilia-rouse-should-focus-on-chronic-u-s-economic-ills
“The nomination of Rouse, Bernstein and Boushey places the CEA in good hands. With Janet Yellen as the nominee for Secretary of the Treasury and Neera Tanden as his pick to direct the Office of Management and Budget, Biden’s economic team will be a solid mix of academic and policy expertise, experience and political acumen”. 

State, Local Governments Slashed Spending After Covid. Next Year Could Be Worse.

Saturday, November 28, 2020

Federal Aid for Higher Education


China's Ever Expanding Territorial Claims

Beijing Takes Its South China Sea Strategy to the Himalayas
https://www.nytimes.com/2020/11/27/world/asia/china-bhutan-india-border.html
 
Sea change: China has its sights on the Bay of Bengal
https://www.spectator.co.uk/article/sea-change-china-has-its-sights-on-the-bay-of-bengal
 
June 15 could mark the date on which China “lost India” strategically. India’s external policy choices will henceforth have a sharper anti-China edge.
https://www.japantimes.co.jp/opinion/2020/07/05/commentary/world-commentary/nuclear-armed-china-india-fight-fists-stones-clubs/
“China follows a familiar salami-slicing playbook in territorial disputes: change ground positions stealthily, move forward assertively, express outrage when discovered, denounce provocations and intrusions by the other party, threaten exemplary retaliation, step back in “good faith,” propose fresh border management procedures, ensure its territorial creep becomes a de facto reality, and repeat as required”. 

Trump and American Politics

Thursday, November 26, 2020

Economist Edward Lazear

Edward P. Lazear, Economist and Presidential Adviser, Dies at 72
https://www.nytimes.com/2020/11/25/business/economy/edward-lazear-dead.html

Politics of Disinformation


International Affairs - Interesting Items

China Thinks America Is Losing - Washington Must Show Beijing It’s Wrong

Free Speech versus Cancel Culture - Interesting Debate

How Capitalism Drives Cancel Culture
Helen Lewis notes:
“The writer Jon Schwarz once described the “iron law of institutions,” under which people with seniority inside an institution care more about preserving their power within the institution than they do about the power of the institution as a whole. That self-preservation instinct also operates when private companies—institutions built on maximizing shareholder value, or other capitalist principles—struggle to acclimatize to life in a world where many consumers vocally support social-justice causes. Progressive values are now a powerful branding tool.
But that is, by and large, all they are. And that leads to what I call the “iron law of woke capitalism”: Brands will gravitate toward low-cost, high-noise signals as a substitute for genuine reform, to ensure their survival”.

Memo to President Trump: College students are not sponges

Pankaj Mishra notes:
“… free speech has never been more widely available than it is today. So much so that the cacophony of voices liberated by digital media too frequently drowns out well-informed and sensible opinion. Trump, who blurts out several hot takes every day, is himself an example of the verbal incontinence enabled by Twitter in recent years.
It is also true that historians, economists and sociologists are able to hold Twitter discussions of a quality that shames much of what appears in the pages of major newspapers and magazines”.

Free speech is about listening as well as talking

A Nurse's Tale

US Politics – The Urban-Rural Divide

Why Big-City Dominance Is a Problem for Democrats
Metro power comes with huge political and cultural drawbacks.
https://www.theatlantic.com/ideas/archive/2020/11/why-big-city-dominance-problem-democrats/617161/ 

Millennials and the Stock Market

Will the Bitcoin Bubble Burst?

Bitcoin Mania Grips Retail Traders in Flashback to Fall 2017

Wednesday, November 25, 2020

Maradona – A Flawed Genius

Diego Maradona: Obituary - Argentina's flawed football icon
https://www.bbc.com/sport/football/44627510

Venture Capitalism

How Venture Capitalists Are Deforming Capitalism | The New Yorker
https://www.newyorker.com/magazine/2020/11/30/how-venture-capitalists-are-deforming-capitalism 

Coronavirus Pandemic - The Third Surge

The Logic of Pandemic Restrictions Is Falling Apart
https://www.theatlantic.com/health/archive/2020/11/pandemic-restrictions-no-logic/617204/
 
How Many Americans Are About to Die?
A new analysis shows that the country is on track to pass spring’s grimmest record.
https://www.theatlantic.com/science/archive/2020/11/coronavirus-death-rate-third-surge/617150/ 
 
I’m a contact tracer in North Dakota. The virus is so rampant that we gave up.
https://www.washingtonpost.com/outlook/2020/11/18/north-dakota-contact-tracing-stopped/
Related:
https://vivekjayakumar.blogspot.com/2020/11/seasonality-and-coronavirus.html

The Death of Coins

Who Will Miss the Coins When They’re Gone?
https://www.nytimes.com/2020/11/24/business/coin-shortage.html 

Tuesday, November 24, 2020

Fiscal Stimulus Worked in 2020


The Post-Election Stock Market Bounce

After Chaotic 4 Years, Wall St. Is Itching to Unfollow @realDonaldTrump
https://www.nytimes.com/2020/11/24/business/wall-street-trump-twitter.html 

Janet Yellen – The Next Treasury Secretary

Janet Yellen, Biden’s Expected Treasury Pick, Has Broken More Than Gender Barriers


Janet Yellen Has Excelled at Big Jobs. This Will Be the Hardest One Yet.
https://www.nytimes.com/2020/11/24/upshot/janet-yellen-treasury-challenges.html 

Saturday, November 21, 2020

Friday, November 20, 2020

Vietnam and China Emerge as Economic Winners in the Pandemic Era


China Says It Remains Open to the World, but Wants to Dictate Terms
https://www.nytimes.com/2020/11/23/world/asia/china-xi-jinping-globalization.html

US Economy - Current Conditions and Future Outlook

Goldman Sachs slashes US growth forecasts as spiking coronavirus cases drive economic slowdown

The Pandemic Recession Has Given Way to a K-Shaped U.S. Economic Recovery

For Small-Business Owners, a Shifting Landscape of Resources

Recession with a Difference: Women Face Special Burden

Wednesday, November 18, 2020

Asset Prices in the Pandemic Era

Bitcoin at $18,000 - Is this about hoarding digital gold, or getting rich quick?
https://www.bloomberg.com/opinion/articles/2020-11-18/ray-dalio-has-a-point-about-bitcoin-at-18-000

Watching the Dow is fun — but it’s not the real story
https://www.washingtonpost.com/business/2020/11/18/dow-sp-500-tech-stocks/

Home Prices Are in a Bubble. Full Stop.

Idealism in Politics

How to save the United Kingdom

How to save the United Kingdom
https://www.newstatesman.com/politics/uk/2020/11/how-save-united-kingdom
The pandemic has brutally exposed the dysfunctional British state. Nationalism is not the solution – but big change is required. Now is the time to decide how to act. 

Student Debt Forgiveness Debate


Forgiving Student Loans May Be Good Social Policy, But It’s Bad Economics, Some Analysts Say
https://www.barrons.com/articles/forgiving-student-loans-may-be-good-social-policy-but-its-bad-economics-some-analysts-say-51605967203
Canceling Student Loan Debt Is Poor Economic Stimulus
http://www.crfb.org/blogs/canceling-student-loan-debt-poor-economic-stimulus 

Related:

The Swedish Experiment

US Foreign Policy in a Changed World

The World Is Never Going Back to Normal
https://www.theatlantic.com/ideas/archive/2020/11/post-trump-world-will-never-go-back-normal/617131/
Other countries are learning to live without America. Biden can’t restore the pre-Trump status quo.

Catch-Up Growth in the Real World

The Economic Cost of Racism


Related:

Tuesday, November 17, 2020

Lessons and Insights from the 2020 US Elections

Our Political System Is Unfair. Liberals Need to Just Deal with It.
The crisis isn’t too much polarization. It’s too little democracy.

Why Biden did better in parts of America with strong economies

Coronavirus - Science and Health Issues


Does Remdesivir Actually Work Against Covid-19?
https://www.nytimes.com/2020/11/17/opinion/remdesivir-covid-fda.html
 
What you need to know about the Moderna and Pfizer coronavirus vaccines
https://www.washingtonpost.com/health/2020/11/17/covid-vaccines-what-you-need-to-know/

The End of the Pandemic Is Now in Sight
https://www.theatlantic.com/health/archive/2020/11/vaccines-end-covid-19-pandemic-sight/617141/
 
Health-care workers are desperate for Americans to listen: ‘We didn’t go to nursing school to be martyrs’
https://www.thelily.com/health-care-workers-are-desperate-for-americans-to-listen-we-didnt-go-to-nursing-school-to-be-martyrs/

Why every state should adopt a mask mandate, in 4 charts
https://www.vox.com/science-and-health/21546014/mask-mandates-coronavirus-covid-19

The Coronavirus Is Airborne Indoors. Why Are We Still Scrubbing Surfaces?
https://www.nytimes.com/2020/11/18/world/asia/covid-cleaning.html

States That Imposed Few Restrictions Now Have the Worst Outbreaks
https://www.nytimes.com/interactive/2020/11/18/us/covid-state-restrictions.html 

The Case for High-Skilled Immigration

Immigrant-Founded Moderna Leading the Way in Covid-19 Response
https://www.forbes.com/sites/stuartanderson/2020/08/11/immigrant-founded-moderna-leading-the-way-in-covid-19-response/
 
The Husband-and-Wife Team Behind the Leading Vaccine to Solve Covid-19
https://www.nytimes.com/2020/11/10/business/biontech-covid-vaccine.html  

Monday, November 16, 2020

Interesting Items

NYC - Slow Economic Recovery Ahead

Tourism, Engine for N.Y.C. Economy, May Not Fully Recover Until 2025
https://www.nytimes.com/2020/11/16/nyregion/nyc-tourism-covid.html 

Economic Policy in the Biden Administration

Saturday, November 14, 2020

Higher Education in the Covid Era

Pandemic leads tens of thousands of international students to delay plans to enter U.S. colleges, survey shows

US colleges report a 43% decline in new international student enrollment, and not just because of the pandemic
https://theconversation.com/us-colleges-report-a-43-decline-in-new-international-student-enrollment-and-not-just-because-of-the-pandemic-149885

Biden’s Election Will Lure MBA Students Back to the U.S., But Not Overnight
Women Rise to Record Numbers at Top-Ranked Business Schools

A Real-World Rags-to-Riches Story

From ‘Street Kid’ in India to Top Toronto Chef
https://www.nytimes.com/2020/11/13/world/canada/sash-simpson-toronto-chef.html 

Video Calling Rises to Prominence

Global pandemic transformed videocalling from a technology most people didn’t like to the technology everybody had to have
https://www.wsj.com/articles/the-overnight-business-boom-that-took-a-century-11605285592

For Stock Investors

 
Intel Has Fallen Behind Rivals and the Rest of Tech. Why Its Stock Can Rise Again.
https://www.barrons.com/articles/intel-has-lost-ground-to-amd-and-nvidia-and-apple-ditched-its-chips-why-its-stock-can-rise-anyway-51605317412
Why General Electric Will Be a Big Winner from a Coronavirus Vaccine
https://www.fool.com/investing/2020/11/14/why-general-electric-will-be-a-big-winner-from-a-c/

The Reality of Unemployment

Jobseekers are being gaslighted – all too often being told unemployment is their fault
https://theconversation.com/jobseekers-are-being-gaslighted-all-too-often-being-told-unemployment-is-their-fault-149787 

India Needs Further Economic Reforms

Weekend Readings - Politics and Society


Anne Applebaum wrote the book on why people choose to collaborate with authoritarian regimes. So what does she think of the GOP?
https://www.vox.com/21562116/anne-applebaum-twilight-of-democracy-gop-trump-election-fraud-2020-biden-the-ezra-klein-show

 
I’m Not Yet Ready to Abandon the Possibility of America by Barack Obama
https://www.theatlantic.com/ideas/archive/2020/11/barack-obama-i-still-believe-america/617073/
Chimamanda Ngozi Adichie on Barack Obama’s ‘A Promised Land’
https://www.nytimes.com/2020/11/12/books/review/barack-obama-a-promised-land.html

The Long-Term Damage of Trump’s Antidemocratic Lies

Do Student Honor Codes Reduce Cheating?

The Pandemic and the Economy

The Pandemic Is Showing Us How Capitalism Is Amazing, and Inadequate
https://www.nytimes.com/2020/11/14/upshot/pandemic-capitalism-vaccine.html
 
Why This Contentious Transition Is So Perilous for the Economy
https://www.nytimes.com/2020/11/13/business/transition-coronavirus-biden-economy.html

Near-term economic challenges facing the incoming Biden administration

Thursday, November 12, 2020

Learning during the COVID-19 Pandemic

Learning during the COVID-19 Pandemic: It Is Not Who You Teach, but How You Teach
https://www.iza.org/publications/dp/13813/learning-during-the-covid-19-pandemic-it-is-not-who-you-teach-but-how-you-teach
Abstract
We use standardized end-of-course knowledge assessments to examine student learning during the disruptions induced by the COVID-19 pandemic. Examining seven economics courses taught at four US R1 institutions, we find that students performed substantially worse, on average, in Spring 2020 when compared to Spring or Fall 2019. We find no evidence that the effect was driven by specific demographic groups. However, our results suggest that teaching methods that encourage active engagement, such as the use of small group activities and projects, played an important role in mitigating this negative effect. Our results point to methods for more effective online teaching as the pandemic continues. 

US Trade Policy Needs a Makeover

Biden Will Need to Repair a Global Economic Order Trump Damaged

Diwali - Festival of Lights

Spike in Coronavirus Infections

As coronavirus soars, hospitals hope to avoid an agonizing choice: Who gets care and who goes home
What Places Are Hardest Hit by the Coronavirus? It Depends on the Measure
https://www.nytimes.com/2020/11/12/us/coronavirus-crisis-united-states.html

CDC wants you to wear a mask. That’s to protect you and others — and to avoid new lockdowns.
https://www.washingtonpost.com/health/2020/11/12/covid-masks-protect-wearers/ 
Face masks: what the data say
https://www.nature.com/articles/d41586-020-02801-8 

Economic and Policy Challenges Facing the Incoming Biden Administration

Millions Face Loss of Jobless Aid: ‘Without It, I’m Dead in the Water’
https://www.nytimes.com/2020/11/11/business/economy/unemployment-benefits-cutoff.html

Divided Government Will Doom the Economy