tag:blogger.com,1999:blog-2623394390068253592.post8478846441380946814..comments2023-06-24T09:25:44.685-04:00Comments on Hopefully Anonymous: Brain Droppings October 21, 2011Hopefully Anonymoushttp://www.blogger.com/profile/03390945830083485144noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-2623394390068253592.post-74404783728811214672011-10-23T03:46:42.131-04:002011-10-23T03:46:42.131-04:00Maximally fair trade between countries: global tra...Maximally fair trade between countries: global trade patterns that maximize how much richer all countries (and the world become), factoring in negative externalities, etc.<br /><br />Hopefully AnonymousAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-2623394390068253592.post-72966099187775973252011-10-22T23:16:19.313-04:002011-10-22T23:16:19.313-04:00Fiscal and monetary policy working in coordination...Fiscal and monetary policy working in coordination isn't really an alternative to NGDP targeting. It's just that if there is fiscal contraction then monetary authorities have to do more to counteract it. As long as we don't think the fiscal authority can respond in a way to neutralize the monetary authority, the end result in terms of total NGDP is not really different.<br /><br />Karl Smith gives an <a href="http://modeledbehavior.com/2011/10/12/why-keynesianism/" rel="nofollow">inside-view argument</a> for why we should believe in Keynesian multipliers without good historical evidence.<br /><br />Yeah, macroeconomics is less settled than micro.<br /><br />What is "maximally fair trade"?<br /><br />I don't think Kling as endorsed Caplan's proposal for an economic analogue of the supreme court. He takes an anti-elite stance, whereas Caplan is plainly elitist despite his anarchism. I don't know of Henderson saying anything about the proposal. I've already <a href="http://entitledtoanopinion.wordpress.com/2009/05/31/judicial-empathy/" rel="nofollow">stated my objection</a> to expecting judges to study law & economics, but actual economists doing it would be another story.<br /><br />I don't know anything about Maddow, but TNR is terrible.TGGPhttps://www.blogger.com/profile/11017651009634767649noreply@blogger.com