Econintersect: Click Read more >> below graphic to see today’s list.
The top of today’s reading list is a book summary for a new release on what is wrong with banking …… and the last article is a critique of the incorrect defenses of economics with respect to The Great Financial Crisis.
- The Bankers’ New Clothes: What’s Wrong With Banking and What to Do About It (Anat Admati and Mertin Hellwig, Book Summary, Princeton University Press) We gotta read this book.
- A Most Peculiar Test Drive (Elon Musk, Tesla Blog) Hat tip to Russell Huntley.
- What You May be Missing if You Only View the Dow Jones and SP500 (Cory Rosenbloom, Afraid to Trade)
- FNC Index: U.S. Home Prices Hit Two-Year High (FNC) See also Calculated Risk and Steven Hansen.
- 10 States that Gouge the Unemployed (and the Existing Solution) (Adam Levin, The Huffington Post)
- The Convergence of George Will and Sherrod Brown (Simon Johnson, The New York Times)
- The One Percent Gobbled Up the Recovery, Too In fact, it put the 99 percent back in recession (Timothy Noah, The New Republic)
- Minimum Wage Channels of Adjustment (Barry T. Hirsch, Bruce E. Kaufman and Tetyana Zelenska, The Institute for the Study of Labor) Real data shoots holes in a lot of classical theory.
- Raise That Wage (Paul Krugman, The New York Times) See also Marco Rubio, John Boehner and Mitch McConnell reaction in article by Michael McAuliff and Sabrina Siddiqui (Huffington Post). Hat tip to Roger Erickson.
- Sorry, Economists: The Crisis is a Huge Problem for Your Discipline (Unlearning Economics)