Actual mileage may vary, but if GDP growth and health inflation continue at their historical pace, healthcare spending per capita in 2105 would be $213,000 while all other spending per capita would be $130,000. Health care spending would go from … read more
Stock markets and corporate profits are up, wage growth anemic. So Fed Governor Sarah Bloom Raskin is wondering whether the “large and increasing amount of inequality in income and wealth” is hampering the current US economic recovery and perhaps “pose … read more
So which economy in the world is “suffering” most from austerity? As Capital Economics notes, the combination of US tax hikes and spending cuts means that over the next two years the federal budget deficit is expected to fall by … read more
Alex Tabarrok has argued that patent law should be stronger in business sectors where there are high “innovation-to-imitation costs” such as pharmaceuticals and weaker where costs are lower, such as software. Tabarrok: So, pharmaceuticals are really the classic case of where the … read more
This analysis from JPMorgan is sums things up nicely: The latest CBO projections look for the federal budget deficit to hit bottom at 2.1% of GDP in FY 2015 and then gradually rise to 3.5% of GDP in 2023, the … read more
Also of Interest
The IRS and big government
The expanding Internal Revenue Service scandal could hardly be any more Drudgeriffic.
Ferguson's blooper on Keynes
It was an unusually feisty weekend in corners of the blogosphere and Twitterverse where dwell economists and economic-policy wonks.
The upside of economic pessimism
The disappointing first-quarter GDP report dashed hopes that 2013 might prove a breakout year for the U.S. economy.