Found 45 article(s) for author 'N. Gregory Mankiw'

Economists Actually Agree on This: The Wisdom of Free Trade

Economists Actually Agree on This: The Wisdom of Free Trade. N. Gregory Mankiw, April 24, 2015, Opinion. “If Congress were to take an exam in Economics 101, would it pass? We are about to find out. The issue at hand is whether Congress will give President Obama “fast track” authority to negotiate a trade deal with our trading partners in the Pacific. The bill is favored by some congressional leaders of both parties, including Senator Orrin G. Hatch, the Republican chairman of the Finance Committee, Senator Ron Wyden, the committee’s ranking Democrat, and Representative Paul D. Ryan, the Republican chairman of the House…” Link

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Dynamic Scoring in Congress Is Defensible but Slippery

Dynamic Scoring in Congress Is Defensible but Slippery. N. Gregory Mankiw, February 28, 2015, Opinion. “How should Congress’s economists open a can of worms? Keith Hall, the new director of the Congressional Budget Office, is likely to be grappling with that odd question very soon.  Let’s start with some background. For the last six years, Douglas Elmendorf has been the director of the C.B.O. By my judgment, he has done a remarkable job of shepherding the institution through times that have been both economically and politically difficult. (Full disclosure: Mr. Elmendorf is a friend and former student of mine…Link

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A Slippery New Rule for Gauging Fiscal Policy

A Slippery New Rule for Gauging Fiscal Policy. N. Gregory Mankiw, February 28, 2015, Opinion. “A Slippery New Rule for Gauging Fiscal Policy: the case for dynamic over static scoring is strong in theory. Yet three problems make the task difficult in practice.  First, any attempt to estimate the impact of a policy change on G.D.P. requires an economic model. Because reasonable people can disagree about what model, and what parameters of that model, are best, the results from dynamic scoring will always be controversial… Second, accurate dynamic scoring requires more information than congressional proposals typically provide…” Link

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Yes, r > g. So what?

Yes, r > g. So what?, N. Gregory Mankiw, November 24, 2014, Paper, Thomas Piketty’s book Capital in the Twenty-First Century captured the public’s attention in a way that few books by economists have. Though its best-seller status was a surprise, probably even to its author, it has the ingredients that foster wide appeal. The book addresses a pressing issue of the day in a manner that is learned, literary, speculative, provocative, and fascinating from beginning to end. While largely a work of economic history, it does not stop there. Piketty ultimately leads the reader to a vision of what the future may hold and advice about what policymakers should do about it. That vision is a dystopia of continually increasing economic inequality due to the dynastic accumulation of capital, leading to a policy recommendation of a steeply progressive global tax on wealthLink

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How to Fix the Corporate Tax? Repeal It

How to Fix the Corporate Tax? Repeal It. N. Gregory Mankiw, August 24, 2014, Opinion. “‘Some people are calling these companies ‘corporate deserters.’ That is what President Obama said last month about the recent wave of tax inversions sweeping across corporate America, and he did not disagree with the description. But are our nation’s business leaders really so unpatriotic? A tax inversion occurs when an American company merges with a foreign one and, in the process, reincorporates abroad...” Link

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Why Inheritance Is Not a Problem

Why Inheritance Is Not a Problem. N. Gregory Mankiw, June 22, 2014, Opinion. “Is inherited wealth making a comeback? Yes, says Thomas Piketty, author of the best seller ”Capital in the Twenty-First Century.” Inherited wealth has always been with us, of course, but Mr. Piketty believes that its importance is increasing. He sees a future that combines slow economic growth with high returns to capital. He reasons that if capital owners save much of their income, their wealth will accumulate and be passed on to their heirs…” Link

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First Thoughts on Piketty

First Thoughts on Piketty. Gregory Mankiw, April 25, 2014, Opinion. “I have been reading Thomas Piketty’s Capital in the 21st Century. It is truly an impressive work, and I am much enjoying it. I have recently organized a session at the upcoming AEA meeting (January in Boston), where David Weil, Alan Auerbach, and I will be discussing the book, followed by a response from Professor Piketty…” Link verified June 19, 2014

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When the Scientist Is Also a Philosopher

When the Scientist Is Also a Philosopher. Gregory Mankiw, March 23, 2014, Opinion. “Do you want to know a dirty little secret of economists who give policy advice? When we do so, we are often speaking not just as economic scientists, but also as political philosophers. Our recommendations are based not only on our understanding of how the world works, but also on our judgments about what makes a good society. The necessity of political philosophy arises because most policies are good for some people and bad for others. For example, an increase in the minimum wage, as proposed by President Obama…” Link verified August 21, 2014

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Yes, the Wealthy Can Be Deserving

Yes, the Wealthy Can Be Deserving, Gregory Mankiw, February 16, 2014, Opinion. “In 2012, the actor Robert Downey Jr., played the role of Tony Stark, a.k.a. Iron Man, in “The Avengers.” For his work in that single film, Mr. Downey was paid an astounding $50 million. Does that fact make you mad? Does his compensation strike you as a great injustice? Does it make you want to take to the streets in protest? These questions go to the heart of the debate over economic inequality, to which President Obama has recently been drawing attention…” Link

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