Bloggers From The United States

"...and Newt [Gingrich] — although somebody said "he’s a stupid man’s idea of what a smart person sounds like," but he is more plausible than the other guys that they’ve been pushing up."

"If we discovered that, you know, space aliens were planning to attack and we needed a massive buildup to counter the space alien threat and really inflation and budget deficits took secondary place to that, this slump would be over in 18 months. … There was a Twilight Zone episode like this in which scientists fake an alien threat in order to achieve world peace. Well, this time, we don't need it, we need it in order to get some fiscal stimulus."

"It’s a great honour to be asked to give this talk, especially because I’m arguably not qualified to do so. I am, after all, not a Keynes , nor any kind of serious intellectual historian. Nor have I spent most of my career doing macroeconomics. Until the late 1990s my contributions to that field were limited to international issues; although I kept up with macro research, I avoided getting into the frontline theoretical and empirical disputes."

"… politics determine who has the power, not who has the truth."

"I know that when I look at today’s Mexicans and Central Americans, they seem to me fundamentally the same as my grandparents seeking a better life in America. On the other side, however, open immigration can’t coexist with a strong ; if you’re going to assure health care and a decent income to everyone, you can’t make that offer global. So Democrats have mixed feelings about immigration; in fact, it’s an agonizing issue."

"So let’s bid a not at all fond farewell to the Big Zero — the decade in which we achieved nothing and learned nothing."

"Whether the influence of increasing returns on trade and geography is rising or falling, one thing is clear: much was learned from the intellectual revolution that brought increasing returns into the heart of how we think about the world economy. It wasn't just that economists could make sense of previously puzzling data, we found ourselves able to see things that had previously been in an intellectual blind spot. Many people contributed to this process of enlightenment; I'm proud to have been a part of the journey."

"It’s a tribute to the importance of Friedman’s work that questions about his legacy bear so directly on contemporary policy issues. But for that reason it’s also important not to engage in . Friedman was a great economist, but like every other great economist in history, he was also wrong about some important things."

"...Exxon Mobil is a worse environmental villain than other big oil companies...Exxon, headed by Mr. Raymond, chose a different course of action: it decided to fight the science....And that's just what Exxon Mobil has done: lavish grants have supported a sort of alternative intellectual universe of global warming skeptics....the fact is that whatever small chance there was of action to limit global warming became even smaller because ExxonMobil chose to protect its profits by trashing good science."

"There is no economic policy. That's really important to say. The general of the Bushies is that they don't make policies to deal with problems. They use problems to justify things they wanted to do anyway. So there is no policy to deal with the lack of jobs. There really isn't even a policy to deal with terrorism. It's all about how can we spin what's happening out there to do what we want to do."

"The whole subject of the liquidity trap has a sort of Alice-through-the-looking glass quality. Virtues like , or a known to be strongly committed to , become vices; to get out of the trap a country must loosen its belt, persuade its citizens to forget about the future, and convince the that the government and central bank aren’t as serious and austere as they seem."

"So you can take your pick as to which Mundell you prefer; but the Nobel committee basically honored Mundell the younger, the economist who was iconoclastic enough to imagine that Canada, of all places, was the economy of the future--and was right."

"The serious lesson of the antics in Argentina, then, is that the big issues of --fixed vs. flexible exchange rates, whether countries should have independent currencies at all--are still wide open. It's an eternal controversy, and not even the pope can resolve it."

"The hangover theory, then, turns out to be intellectually incoherent; nobody has managed to explain why bad investments in the past require the unemployment of good workers in the present. Yet the theory has powerful emotional appeal. Usually that appeal is strongest for conservatives, who can't stand the thought that positive action by governments (let alone—horrors!—printing money) can ever be a good idea. Some libertarians extol the Austrian theory, not because they have really thought that theory through, but because they feel the need for some prestigious alternative to the perceived statist implications of Keynesianism. And some people probably are attracted to Austrianism because they imagine that it devalues the intellectual pretensions of economics professors. But moderates and liberals are not immune to the theory's seductive charms—especially when it gives them a chance to lecture others on their failings."

"In short, the success of macroeconomic activism, in both theory and practice, has made it possible for free market microeconomics to survive--again both in theory and in practice."

"Here, then, is a revised version of Marshall's rules: (1) Figure out what you think about an issue, working back and forth among verbal intuition, evidence, and as much math as you need. (2) Stay with it till you are done. (3) Publish the intuition, the math, and the evidence - all three - in an economics journal. (4) But also try to find a way of expressing the idea without the formal apparatus. (5) If you can, publish that where it can do the world some good."

"So the story of the baby-sitting co-op is not a mere amusement. If people would only take it seriously—if they could only understand that when great economic issues are at stake, whimsical parables are not a waste of time but the key to enlightenment—it is a story that could save the world."

"Now I’m not saying that Keynes was right about everything, that we should treat The General Theory as a sort of secular bible - the way that Marxists treat Das Kapital. But the essential truth of Keynes’s big idea - that even the most productive economy can fail if consumers and investors spend too little, that the pursuit of sound money and s is sometimes (not always!) folly rather than wisdom - is as evident in today’s world as it was in the 1930s. And in these dangerous days, we ignore or reject that idea at the world economy’s peril."

"By 2005 or so, it will become clear that the Internet's impact on the economy has been no greater than the fax machine's."

"There is nothing that plays worse in our culture than seeming to be the stodgy defender of old ideas, no matter how true those ideas may be. Luckily, at this point the orthodoxy of the academic economists is very much a minority position among intellectuals in general; one can seem to be a courageous maverick, boldly challenging the powers that be, by reciting the contents of a standard textbook. It has worked for me!"

"The idea of comparative advantage—with its implication that trade between two nations normally raises the real incomes of both—is, like evolution via natural selection, a concept that seems simple and compelling to those who understand it. Yet anyone who becomes involved in discussions of beyond the narrow circle of academic economists quickly realizes that it must be, in some sense, a very difficult concept indeed."

"It is a bit funny, but also quite sad: Those who preach the doctrine of global glut are tilting at windmills, when there are some real monsters out there that need slaying."

"If economists ruled the world, there would be no need for a World Trade Organization. The economist's case for free trade is essentially a unilateral case—that is, it says that a country serves its own interests by pursuing free trade regardless of what other countries may do."

"If you want a simple model for predicting the unemployment rate in the United States over the next few years, here it is: It will be what Greenspan wants it to be, plus or minus a random error reflecting the fact that he is not quite God."

"But the honest truth is that what drives me as an economist is that economics is fun. I think I understand why so many people think that economics is a boring subject, but they are wrong. On the contrary, there is hardly anything I know that is as exciting as finding that the great events that move history, the forces that determine the destiny of empires and the fate of kings, can sometimes be explained, predicted, or even controlled by a few symbols on a printed page. We all want power, we all want success, but the ultimate reward is the simple joy of understanding."

"I do not mean to say that formal economic analysis is worthless, and that anybody's opinion on economic matters is as good as anyone else's. On the contrary! I am a strong believer in the importance of models, which are to our minds what spear-throwers were to stone age arms: they greatly extend the power and range of our insight. In particular, I have no sympathy for those people who criticize the unrealistic simplifications of model-builders, and imagine that they achieve greater sophistication by avoiding stating their assumptions clearly. The point is to realize that economic models are metaphors, not truth. By all means express your thoughts in models, as pretty as possible (more on that below). But always remember that you may have gotten the metaphor wrong, and that someone else with a different metaphor may be seeing something that you are missing."

"In the course of describing my formative moment in 1978, I have already implicitly given my four basic rules for research. Let me now state them explicitly, then explain. Here are the rules:1. Listen to the Gentiles 2. Question the question 3. Dare to be silly 4. Simplify, simplify"

"If there is one single area of economics in which path dependence is unmistakable, it is in economic geography – the location of production in space."

"If there were an Economist's Creed, it would surely contain the affirmations 'I understand the Principle of Comparative Advantage' and 'I advocate Free Trade'"

"My time coming, any day, don't worry about me, no Been so long I felt this way, I'm in no hurry, no. Rainbows end down that highway where ocean breezes blow My time coming, voices saying, they tell me where to go. Don't worry 'bout me, no no, don't worry 'bout me, no And I'm in no hurry, no no no, I know where to go. California, preaching on the burning shore California, I'll be knocking on the golden door Like an angel, standing in a shaft of light Rising up to paradise, I know I'm going to shine."

"This life is fleeting, as we all know — the Muse we serve is not. John had a way of taking life’s most difficult things and framing them as challenges, therefore adventures. He was to be admired for that, even emulated. He’ll live on in the songs we wrote..."

"“Estimated Prophet,” words by John Barlow, music by Bob Weir, has always worked a special kind of magic. Barlow captures that whole slightly (or very) deranged or tripped-out Deadhead vibe so well, but the song’s character transcends that little box over time — both over the time the particular rendition might take, and over the time from when we may have first heard it played or performed to the most recent rendition we have heard. That character stands there in my mind’s eye, calling down the thunder, and he seems so sure, so devoted to his vision, that he stands for everyone who was ever caught up in a transforming belief, who gave in to delusions of grandeur, who believed himself the center of the universe — but wait — haven’t we all done that, at least to some degree? It’s human nature to consider oneself the center of the universe. … Barlow calls on plenty of biblical imagery for the lyrics, with the sea parting before the singer, and fire wheels burning in the air, etc. Pretty much your average run-of-the-mill vision for an experienced Deadhead. The interesting thing, for me, is the notion that this character is a prophet. And therein lies a more subtle biblical reference, not at all overt, but hovering in the back of our minds, perhaps, if we have any biblical training. Namely, the notion, expressed by Jesus in three of the four gospels, and therefore likely to be something he really did say, that a prophet has no honor in his own country. … This is one of those songs, and there are quite a number of them in the Dead’s repertoire, in which a not-entirely-sympathetic character is brought to life, and, in the course of being brought to life, is made more sympathetic."

"It is no exaggeration to say that major parts of the Internet we all know and love today exist and thrive because of Barlow’s vision and leadership. He always saw the Internet as a fundamental place of freedom, where voices long silenced can find an audience and people can connect with others regardless of physical distance. Barlow was sometimes held up as a straw man for a kind of naive techno-utopianism that believed that the Internet could solve all of humanity's problems without causing any more. As someone who spent the past 27 years working with him at EFF, I can say that nothing could be further from the truth. Barlow knew that new technology could create and empower evil as much as it could create and empower good. He made a conscious decision to focus on the latter: "I knew it’s also true that a good way to invent the future is to predict it. So I predicted Utopia, hoping to give Liberty a running start before the laws of Moore and Metcalfe delivered up what Ed Snowden now correctly calls 'turn-key totalitarianism'.”"

"The world lost a true hero today, a Renaissance man who was a relentless warrior for our freedom."

"Polyamory — that's where you're freely confessed that you have more than one lover at a time. And actually I'm less that way than I used to be, but I was trying to make people understand, that at least for some folks, this was a fairly natural state. And instead of skulking around about it that we'd all do better to avoid the deceit and be honest."

"I wasn't tempted to vote for Bush, but I understand why people did… because he obviously had integrity. It was a terrible kind of integrity, but he does what he says and he means what he says. And what he says is terrible and what he does is terrible, but he's consistent. So I think a lot of people in Wyoming who care so much about integrity that they're willing to choose somebody that has a monstrous willingness to do any damn thing as long as he's up front about it — but that's not really quite enough for me. I mean I look forward to the day when I can be Republican again. I'm an Alan Simpson Republican."

"I was always raised to think that Republicans were about limited government, about individual liberty, about fiscal responsibility, about balanced budgets, about a wariness of military adventures abroad, about responsible encouragement to business. There's a whole list of things I thought the Republican Party was all about, and these guys that presently occupy the White House, are categorically against every single one of those things. So if they're Republicans, I'm not. But I'm really not a very comfortable Democrat. I mean the Democrats in the last elections proved themselves to be a bunch of dithering pussies... and it was pathetic. So I'm just waiting until one party or the other actually gets a moral compass and a backbone."

"I'm a free-marketeer. I believe in free markets, but... sometimes you have things that look like free markets but aren't because of artificial reasons. I'm not very happy with the current state of what calls itself free market economy in the world because you've got all these grotesque monopolies that are able to game the system in a way that's to their advantage by virtue of their power, and that's not a free market. A real free market has some kind of countervailing influence from the government to keep a monopoly in check, but this government... it's not about free marketing principles, it's about greed pure and simple. And this government wants to assure that the other people that they went to college with get just as rich as they do. This country is going to make Mexico look like Sweden inside of ten years in terms of wealth distribution, because there are no countervailing forces. They've eliminated tax basically for the ultra-rich, they've eliminated any control over monopolies, the greedy have free reign and its just going to be the super rich and the peasants."

"It’s a perfect set of circumstances to give us the time Yeats foretold, with the best having lost all conviction and the worst full of passionate intensity. I’m an optimist. In order to be libertarian, you have to be an optimist. You have to have a benign view of human nature, to believe that human beings left to their own devices are basically good. But I’m not so sure about human institutions, and I think the real point of argument here is whether or not large corporations are human institutions or some other entity we need to be thinking about curtailing. Most libertarians are worried about government but not worried about business. I think we need to be worrying about business in exactly the same way we are worrying about government."

"You now have two distinct ways of gathering information beyond what you yourself can experience. One of them is less a medium than an environment — the Internet — with a huge multiplicity of points of view, lots of different ways to find out what's going on in the world. Lots of people are tuned to that, and a million points of view have bloomed. It creates a cacophony of viewpoints that doesn't have any political coherence at all, a beautiful melee, but it doesn't have the capacity to create large blocs of belief. The other medium, TV, has a much smaller share of viewers than at any time in the past, but those viewers get all their information there. They get turned into a very uniform belief block. TV in America created the most coherent reality distortion field that I’ve ever seen. Therein is the problem: People who vote watch TV, and they are hallucinating like a sonofabitch. Basically, what we have in this country is government by hallucinating mob."

"Copyright and intellectual property are the most important issues now. If you don't have something that assures fair use, then you don't have a free society. If all ideas have to be bought, then you have an intellectually regressive system that will assure you have a highly knowledgeable elite and an ignorant mass."

"Your increasingly obsolete information industries would perpetuate themselves by proposing laws, in America and elsewhere, that claim to own speech itself throughout the world. These laws would declare ideas to be another industrial product, no more noble than pig iron. In our world, whatever the human mind may create can be reproduced and distributed infinitely at no cost. The global conveyance of thought no longer requires your factories to accomplish. These increasingly hostile and colonial measures place us in the same position as those previous lovers of freedom and self-determination who had to reject the authorities of distant, uninformed powers. We must declare our virtual selves immune to your sovereignty, even as we continue to consent to your rule over our bodies. We will spread ourselves across the Planet so that no one can arrest our thoughts. We will create a civilization of the Mind in Cyberspace. May it be more humane and fair than the world your governments have made before."

"You claim there are problems among us that you need to solve. You use this claim as an excuse to invade our precincts. Many of these problems don't exist. Where there are real conflicts, where there are wrongs, we will identify them and address them by our means. We are forming our own Social Contract. This governance will arise according to the conditions of our world, not yours. Our world is different. Cyberspace consists of transactions, relationships, and thought itself, arrayed like a standing wave in the web of our communications. Ours is a world that is both everywhere and nowhere, but it is not where bodies live. We are creating a world that all may enter without privilege or prejudice accorded by race, economic power, military force, or station of birth. We are creating a world where anyone, anywhere may express his or her beliefs, no matter how singular, without fear of being coerced into silence or conformity. Your legal concepts of property, expression, identity, movement, and context do not apply to us. They are all based on matter, and there is no matter here."

"Governments of the Industrial World, you weary giants of flesh and steel, I come from Cyberspace, the new home of Mind. On behalf of the future, I ask you of the past to leave us alone. You are not welcome among us. You have no sovereignty where we gather. We have no elected government, nor are we likely to have one, so I address you with no greater authority than that with which liberty itself always speaks. I declare the global social space we are building to be naturally independent of the tyrannies you seek to impose on us. You have no moral right to rule us nor do you possess any methods of enforcement we have true reason to fear. Governments derive their just powers from the consent of the governed. You have neither solicited nor received ours. We did not invite you. You do not know us, nor do you know our world. Cyberspace does not lie within your borders."

"Among the waves of tragedy which have crashed on me with her death is a terror that our message of hope has been changed into a dreadful warning. But I must tell you that had I known in the beginning that I would be here today doing this terrible thing, I would still have loved her as unhesitatingly, because true love is worth any price one is asked to pay. The other message we wished to convey was one of faith in the essential goodness and purpose of life. I have always felt that no matter how inscrutable its ways and means, the universe is working perfectly and working according to a greater plan than we can know."

"With a care both conscious and reverential, Cynthia and I built a love which I believe inspired most who came near it. We felt it was our gift to the world. We wanted to show the hesitant the miracle that comes when two people give their hearts unconditionally, honestly, fearlessly, and without reservation or judgement. We wanted to make our union into a message of hope, and I believe we did, even though we knew that hearts opened so freely can be shattered if something should go wrong. As my heart is shattered now."

"I don't know that I believe in the supernatural, but I do believe in miracles, and our time together was filled with the events of magical unlikelihood. I also believe that angels, or something like them, sometimes live among us, hidden within our fellow human beings. I'm convinced that such an angel dwelled in Cynthia. I felt this presence often in Cynthia's lightness of being, in her decency, her tolerance, her incredible love. I never heard Cynthia speak ill of anyone nor did I ever hear anyone speak ill of her. She gave joy and solace to all who met her."

"It didn't matter what we did or where we did it as long as we were together. We knew we'd found what most people either pursue in years of futile search or dismiss as a fantasy at the outset: the missing half of ourselves. The real thing."

"I support freedom of expression, no matter whose, so I oppose DDoS attacks regardless of their target... they're the poison gas of cyberspace."

"The first serious infowar is now engaged. The field of battle is WikiLeaks. You are the troops."