From World War II Today: H.F. Norman at Kohima:
At 09.30 hours Corporal Judges and his section consisting of Privates Johnson,Thrussel and myself, as well as Corporal Veal’s section, went onto the road to help evacuate the wounded Indians, BORs, walking and stretcher cases. It was my job to look at the stretcher cases. If they were dead I had to send the Indian stretcher bearers round the back of the feature where they put the bodies in a heap to be buried later.…
Charles Koch complains about the character assassination he experiences at the hands of Barack Obama, who he says is acting like the despots of the twentieth century like Hitler and Stalin. But why is he silent about the real character assassination he suffers? For that we have to resort to the archives, and the bemused Justin Fox:
Justin Fox (2009): on the crazed right-wingers who lead the character assassination of Charles Koch: "Update: Lew Rockwell weighs in...
on my taxonomy of Austrians:
The author hilariously sees Austrian economics as divided into two parts: the nice one, entirely in the super-wealthy Koch Brothers ambit, and the mean one, in mine! A little background: when I started the Mises Institute (an organization unmentioned by Time) 26 years ago, the head of the Koch Family Foundation angrily pledged to destroy me if I went ahead. "We have worked too hard to rid Austrian economics of Mises," he said. Hayek, he claimed, was their man, though, of course, he was far better than that, and a good supporter of the Institute. But the real problem turned out to be Murray Rothbard. It was the greatest of the Misesians and the founder of modern libertarianism whom the Koch World Empire longed to smash, and still does. Murray, founder of Cato, was the one man in the ambit to say no when the Kochs decided to jettison Mises for reasons of DC preferment.
Owen Zidar sends us back to the Wall Street Journal of twenty years ago, reminding us why Berkeley Economics has punched so much above the fundamental weight of the relative resources allowed us by the university over the past generation, and will continue to punch well above its fundamental weight in the future: a ruthless focus on what is important, a profound attention to what works, and an enthusiasm for marking our beliefs to market very rarely found as a guiding ethos in other economics departments:
Owen Zidar: Back to the World: Berkeley’s Economists Attack Policy Issues With Unusual Gusto: "Berkeley is having prospective PhD students visit the economics department today, so I wanted to share an old gem on Berkeley’s “real world economics”
WALL STREET JOURNAL (J) 12/01/95 Copyright (c) 1995 Dow Jones & Company, Inc. By Thomas T. Vogel Jr. Staff Reporter of The Wall Street Journal BERKELEY, Calif.: Activists have taken over at Berkeley, again. The school that was synonymous with 1960s tie-dyed radicalism is once more in the vanguard. This time it’s shaking up the economics profession, and the rebels are on the faculty, the 42 Ph.D.s in the Department of Economics at this University of California campus.
Their battle cry is “real-world economics,” and they talk and write about today’s hot-button issues, such as jobs and wages, immigration policy, the dollar and currency markets, business cycles and technology’s role in economic growth. While intellectually rigorous, many of their pursuits are a sharp departure from the esoteric realms of many academic economists, who churn out papers strewn with Greek- letter formulas understood by few and interesting to even fewer.
David M. Glantz, Endgame at Stalingrad
Over at the Washignton Center for Equitable Growth: The slides from the talks I was giving as 2008 turned into 2009. The huge hole in them is the lack on my part of any consideration of the possibility that we might not do what was necessary--that we might fail to use fiscal and banking policy on a large-enough scale to rebalance aggregate demand at full employment in a short-run of two to three years...
I simply assumed that the political and economic logic would work together: the political logic was that all incumbents of whatever party were at grave risk in the next election if unemployment was still high in 2010 and even more so in 2012, and that the economic logic behind using expansionary fiscal policy to get spending up to potential output was crystal-clear. I thought it obvious:
These all seemed to me to be barely worth noting, or not even worth noting.
Silly me... READ MOAR
Finish Essentials, chapter 14 "Aggregate Demand and Aggregate Supply", 15 "Fiscal Policy”. Start chapters 16 and 17: “Money, Banking, and the Federal Reserve” and “Monetary Policy”
M Apr. 14: The Lesser Depression:
W Apr 16: The Lesser Depression/The Government Budget
Final Exam: Friday May 16, 8-11 AM, Hearst Gymnasium
[Spoilers]. In Vernor Vinge (1999), A Deepness in the Sky (New York: Tor: 0812536355). On pp. 699-700, a brief paragraph completely reverses your understanding of the progress of the book's main plot:
Sherkaner Underhill didn't seem to notice. He moved his head back and forth under the [game] helmet's light show. 'There has to be reconnect. There has to be.' His hands twitched at the game controls. Seconds passed. 'It's all messed up now,' he sobbed."
When you finish that paragraph, your picture of what is going on in the story is turned upside down.
The 5th Air Force were engaged in missions against the Japanese in New Guinea and New Britain.... There was a warning that there was a weather front moving in during the mission – but the orders were to go ahead anyway. Probably no one could have anticipated just how severe that tropical storm could possibly be. In the end it proved to be the cause of the worst operational loss suffered by the 5th Air Force in a single day, including combat losses. It is believed to be the biggest single weather-related loss in aviation history. 1st Lt. Calvin Wire was flying a P-38, escorting the bombers. It was only on the return trip they experienced problems:
Republican leaders are stepping up their campaign to discredit tea party activists who are challenging them on Capitol Hill and on the campaign trail, accusing conservatives of lining their own pockets at the expense of the GOP.
From World War II Today: Edward Young: One of Our Submarines:
04.58. Dived eighteen miles ESE of Port Blair. Ran in at four knots.
- Sighted merchant ship steering eastward from Port Blair, escorted by same “screen” as for previous day’s target, namely one destroyer, one submarine-chaser and one other AS vessel rather like a river gunboat. At ﬁrst I thought, pessimistically, that the target was the ship I had attacked yesterday, but on closer examination she was seen to be larger, about 4,000 tons, with a large derrick for’ard which the other ship did not have. Moreover, asdic counted 9 5 revs with reciprocating H.E., and the smoke was coming out of the funnel in typical coal-burning fashion.
Please join the Economic Policy Institute and the Washington Center for Equitable Growth: "for a presentation by Thomas Piketty...
...economist from the Paris School of Economics and ground-breaking researcher on income inequality—of the findings in his new book, Capital in the Twenty-First Century.
His presentation will be followed by a panel discussion moderated by Heather Boushey, Executive Director and Chief Economist of the Washington Center for Equitable Growth, with Josh Bivens, Research and Policy Director of the Economic Policy Institute, Robert M. Solow, Professor Emeritus at the Massachusetts Institute of Technology and Betsey Stevenson, Member of the White House Council of Economic Advisers, serving as discussants.
When: Tuesday, April 15, 2014 from 9:30 AM to 11:00 AM (EDT)
Where: 1333 H St NW; Suite 300, East Tower; Washington, DC 20005...
Reread Essentials, chapter 15 "Fiscal Policy”. Read chapters 18 and 19: “Crises and Consequence” and “The International Economy”
M Apr. 14: The Lesser Depression
W Apr 16: The Government and Its Budget
Problem Set 6 out later in the week…