There would be risks in relying on the Fed to bail out the economy from a potential pandemic.
Neil IrwinInvestors sure have an awful lot of faith that potential Fed easing will offset supply disruptions/hit to corporate profits.
So the 10 year yield is now down 43 bps so far in 2020, while the S&P 500, despite today's selloff, is still up ~4%.
Finance-driven capitalism was supposed to make the economy more dynamic. A failed shoe chain shows why it hasn’t happened.
Neil IrwinPrivate equity and other financialized forms of corporate control supposedly offer a more disciplined, effective form of capitalism. So why has economic growth been so weak?
In search of answers, I went to Topeka, Kansas, to visit a failed shoe retailer.
Fighting conventional wisdom to arrive at the right answer, not necessarily the most popular one.
Neil IrwinPaul Volcker ended the great inflation, though the monetary policy consensus he left behind has increasingly glaring flaws.
But the real lessons we should draw from his life aren't about economics at all, but how to be an honorable public servant.
Conventional wisdom seems to have been too pessimistic about how much the economy could grow before setting off inflation. In hindsight, a costly mistake.
Neil IrwinThe job market is stronger than the experts thought was even possible a few years ago. We should learn a lesson from that: That we need to be open-minded about how much more room there is to put more people to work and see wages rise.
Moody’s data shows that higher taxes would be paid disproportionately in Democratic-leaning states.
Neil IrwinA wealth tax would only affect a sliver of the population. But a different, less-discussed set of Democratic proposals would raise taxes on millions of high-income professionals: Uncapping Social Security payroll taxes.
We’ll never know for sure whether the risks were as great as the yield curve and other signs suggested.
Neil IrwinDid recession fears recede because they were overblown to begin with? Or because of the warnings that came out of the bond market and the media over the summer?
What the round-trip of the last few months tells us.
Time for your weekly edition of the, uh, No Longer Deadspin Funbag. Got something on your mind? Email the Funbag. Today, we're talking about asparagus pee, bar crawls, football, shitty roommates, and more.
Labor strife, pressure on the Fed, a sharp rise in oil prices, but without stagflation and other key elements.
Neil IrwinGM workers on strike! The president strongarming the Fed! Oil prices spiking!
It may be the early 1970s all over again in the economic headlines, but the details show why the actual risks are different this time around.
Amid the desert orgies, Paul Romer investigates a provocative question: Is this bacchanal a model of urban planning?
Neil IrwinWhat happens when a Nobel-winning economist visits the drug-fueled utopian anarchy of Burning Man?
You get the most delightful fish-out-of water story you'll ever read, and along the way learn profound lessons about how civilizations develop and advance.