HispanicPundit + kimball   10

On the Consumer Financial Protection Bureau
Defending a limited role of the consumer financial protection bureau.
CFPB  financialregulation  kimball 
december 2016 by HispanicPundit
Growing up, I was like most Americans in my...
Growing up, I was like most Americans in my reverence for the Constitution. … Until I took Constitutional Law at Harvard Law School. The experience was completely disillusioning, but not because of the professor, Laurence Tribe, who was an engaging and open-minded teacher. No, what disillusioned me was reading the opinions of the U.S. Supreme Court. Throughout the semester, as we covered one constitutional clause after another, passages that sounded great to me were drained by the Court of their obviously power-constraining meanings. First was the Necessary and Proper Clause in McCulloch v. Maryland (1819), then the Commerce Clause (a bit) in Gibbons v. Ogden (1824), then the Privileges or Immunities Clause of the Fourteenth Amendment in The Slaughter-House Cases (1873), then the Commerce Clause (this time in earnest) in Wickard v. Filburn (1942), and the Ninth Amendment in United Public Workers v. Mitchell (1947).
constitution  kimball 
october 2016 by HispanicPundit
The Impact Of Hugo Chavez In Venezuela
We use the synthetic control method to perform a case study of the impact of Hugo Chavez on the Venezuelan economy. We compare outcomes under Chavez’s leadership and polices against a counterfactual of “business as usual” in similar countries. We find that, relative to our control, per capita income fell dramatically. While poverty, health, and inequality outcomes all improved during the Chavez administration, these outcomes also improved in each of the corresponding control cases and thus we cannot attribute the improvements to Chavismo. We conclude that the overall economic consequences of the Chavez administration were bleak.
venezuela  chavez  kimball 
march 2016 by HispanicPundit
Scott Sumner vs. Peter Schiff on the Kudlow Report
Having confronted Peter Schiff myself along with Mike Konczal on HuffPost Live, I was glad to see Scott Sumner’s detailed rebuttals to Peter Schiff on Larry Kudlow’s show. I do not use the word lightly when I write that Peter Schiff is spouting gobbledygook. But in the words of one of my John Stuart Mill posts, "Let the Wrong Come to Me, for They Will Make Me More Right." Scott Sumner is made very right in this segment.
sumner  sidebar  kimball  monetarism 
august 2013 by HispanicPundit
Steven Pinker on How the Free Market Makes Us Uneasy
Unlike the other three relationship types, Market Pricing is nowhere near as universal. A culture with no written language and with a number system that peters out at “3” cannot handle even the rudiments of Market Pricing. And the logic of the market remains cognitively unnatural as well. People all over the world think that every object has an intrinsic fair price (as opposed to being worth whatever people are willing to pay for it at the time), that middlemen are parasites (despite the service they render in gathering goods from distant places and making them conveniently available to buyers), and that charging interest is immoral (despite the fact that money is more valuable to people at some times than at others).[See Thomas Sowell: Knowledge and Decisions.] These fallacies come naturally to an Exchange mindset in which distributions are fair only when equivalent quantities of stuff change hands. The mental model of face-to-face, tit-for-tat exchanges is ill equipped to handle the
capitalism  history  evolution  pinker  kimball  sidebar  sowell 
december 2012 by HispanicPundit
Scott Adams’s Finest Hour: How to Tax the Rich
When I fill out my taxes, I notice that even receipts for $25 donations have thank you notes attached. But for the tens of thousands of dollars I give each year to help keep our wonderful Republic afloat, nothing. Can’t we do a little more as a nation to honor our taxpayers individually? If the First Spouse is willing, how about a thank-you note for every taxpayer signed by the President of the United States and the often much-more-popular First Spouse? (To save on postage, it could be mailed along with the annual Social Security report people get sometime close to their birthdays, for example.) And how about a dinner at the White House honoring the top 100 taxpayers in the country? Not the 100 richest people in the country, but the top 100 taxpayers. One might object that they would just use the opportunity to lobby for lower taxes, but if they did, they wouldn’t get invited the next year. If we honored the top 100 taxpayers like that, maybe they wouldn’t feel like fools for paying th
sidebar  Kimball  wsj  fundamentals  taxes 
august 2012 by HispanicPundit
Miles Kimball on Potential Housing Bubble Remedies
.a price boom is a great time to pare back or eliminate unwise subsidies like the home mortgage interest tax deduction. This is actually something the Bush administration did with a tax-reform commission in 2005, which gave Democrats the opportunity to complain. Then Republicans in Congress and the White House rapidly abandoned it. But a good idea. Kimball also says you could enact regulatory restrictions on low down-payment mortgages. That is definitely a good idea, although again one wonders what the political constituency is. Person A wants to sell a house, Person B wants to buy a house, and a bank wants to lend Person B the money to buy the house from Person A. But the government is going to step in and say it can't be done? Seems unfair! But absolutely, yes, if possible allowable leverage ratios should be countercyclical. Third is the idea of more systematic reform of how mortgage finance works.
sidebar  mortgageinterestdeduction  yglesias  Kimball  bush  fed  monetary  bubbles  financialcrisis 
july 2012 by HispanicPundit

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