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Tidbits – July 25 – Reader Comments: Passing the Torch; Calling All Students Going Off to College-Get Your Absentee Ballots; Bernice Johnson Reagon; Ending Taxes on Tips?; March To End Climate Destruction-July 27; Cartoons; More

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Reader Comments: Passing the Torch; Calling All Students Going Off to College -- Get Your Absentee Ballots Now; Bernice Johnson Reagon; Ending Taxes On Tips; Record Breaking Corporate Profits - Not Inflation; March To End Climate Destruction-July 27

Sticking With High Rates Will Crash the Economy

Thomas Ferguson and Servaas Storm Institute for New Economic Thinking
In persisting with its high rates policy, the Fed is acting like James Dean in the famous “chicken run” auto race in Rebel Without a Cause.

Time for the Fed To Meet the FTC

Robert Kuttner The American Prospect
The real source of too many price hikes is concentrated market power, not macroeconomic overheating.

Time for a Victory Lap?

Joseph E. Stiglitz The American Prospect
Those who believed inflation would be transitory were proven right, and those who demanded the sacrifice of mass unemployment proven wrong.

Wages and Prices: Who Is Keeping Up With What?

Dean Baker Center for Economic and Policy Research
Since President Biden took office, the media have run a constant stream of news stories about how high various prices were and telling their audiences that this has led to mass suffering.

Why Mainstream Economics Got Inflation Wrong

James K. Galbraith Project Syndicate
Leading economists' misdiagnosis of inflation in 2021-22 was the latest episode in a long-running series of failures. Either mainstream economists need to re-examine their core beliefs, or the profession needs a new mainstream.

The Missing Inflation Data

Matt Stoller The Lever
The Biden administration is getting bad data and bad advice — but there’s a way out.
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