How Obama Should Deal With the Debt Ceiling
Megan McArdle was born and raised on the Upper West Side of Manhattan, and yes, she does enjoy her lattes, as well as the occasional extra dry skim milk cappuccino. Her checkered work history includes three start-ups, four years as a technology project manager for a boutique consulting firm, a summer as an associate at an investment bank, and a year spent as sort of an executive copy girl for one of the disaster recovery firms at Ground Zero . . . all before the age of 30. While working at Ground Zero, she started Live from the WTC, a blog focused on economics, business, and cooking. She may or may not have been the first major economics blogger, depending on whether we are allowed to throw outlying variables such as Brad Delong out of the set. From there it was but a few steps down the slippery slope to freelance journalism. For the past four years she has worked in various capacities for The Economist The best way to handle this, in the first instance, is to pay contractors with IOUs. The firms that supply the United States military aren't cash-constrained and they don't want to give up the Pentagon as a customer. If we ask them to keep doing the work and just promise to pay them after congress raises the debt ceiling, they'll almost certainly keep paying the troops. Matt is thinking like a wonk, not a politician. What Obama should do is the exact opposite of this sensible advice: he should make preparations to shut down the machines that write Social Security checks and army paychecks, lamenting that he has no choice because the US is contractually obligated to pay its other bills. The GOP is betting that Democrats will take the blame for this. I think that is a very bad bet.Megan Mcardle Atlantic - News
Megan McArdle - Megan McArdle is the business and economics editor for . She has worked at three start-ups, a consulting firm, an investment bank, a disaster recovery firm at Ground Zero, and the Economist. More Megan McArdle was born and
Megan McArdle - Megan McArdle is the business and economics editor for . She has worked at three start-ups, a consulting firm, an investment bank, a disaster recovery firm at Ground Zero, and the Economist. More Megan McArdle was born and
Even Megan McArdle in missed some of the key points in my post. Mostly, I blame myself. When that many people gloss over things in your post, chances are you didn't make things clear enough. So allow me to correct that problem now.
Diane Ravitch, the historian and leading education reform critic, can be hard to understand. Not that her writing is difficult. Quite the opposite actually, it's incredibly lucid and lively, and my favorite thing about her in fact.
I appreciate his candor, have great sympathy for his wife, and think Andrew Breitbart is odious. But Weiner's refusal to resign seems like a spasm from the guy he was until a week ago: the chesty liberal loudmouth who tore up
6/21 – The Atlantic – Georgia's Harsh Immigration Law Costs ...
The results of that investigation have now been released. According to survey of 230 Georgia farmers conducted by Agriculture Commissioner Gary Black, farmers expect to need more than 11,000 workers at some point over the rest of the season, a number that probably underestimates the real need, since not every farmer in the state responded to the survey.’ It goes like this. If you’re not going to let illegal immigrants do the jobs they are currently being hired to do, then farmers will have to raise wages to replace them. Since farmers are taking a risk in hiring immigrant workers, you can bet they were getting a significant deal on wage costs relative to “market wages”. I put market wages here in quotations, because it’s quite possible that the wages required to get workers to do the job are so high that it’s no longer profitable for farmers to plant the crops in the first place. The simple labor market supply and demand curves below illustrate exactly what I’m talking about.
Here the leftward shift in the labor supply curve when moving to a market with immigrants to one without reflects the fact that for any given wage, there are less people willing to do the job. If the supply curve shifts far enough to the left, the equilibrium quantity of labor becomes negative, meaning that farmers will hire zero workers. If workers are needed to run a farm, then zero workers is the same as zero crops, and zero farm. Some labor may be replaced with capital, but in other cases the farms might just shut down. Importantly, the more competitive the final goods market (meaning the market for the product that the workers are being hired to make) the flatter the labor demand curve will be. If the market is competitive, then a small increase in prices will cause buyers to shift to a competitors products. This means that a firm’s (or in this case, a farmer’s) profits are sensitive to small shifts in input prices. In the case of agriculture, where one farmers crops are usually very comparable with another farmers, the market will be highly competitive and the demand curve will be flat. This problem is even more exacerbated when the demand is for Georgia farmers in particular, since retailers who buy their products can shift to farmers in competing states.
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Megan McArdle, an Atlantic associate editor, blogs at meganmcardle.theatlantic. com. a... fit s •> 0 THE MAGIC OF LEVERAGE The banks borrowed heavily— often ...Aging, Concepts and Controversies
Reading 47 NoCountry forYoung Men Megan McArdle SOURCE: “No Country for Young Men” by Megan McArdle in Atlantic Monthly, January/February, 2008. ...The Deepening Crisis, Governance Challenges After Neoliberalism
On the feebleness of the Manhattan Project analogy, see Megan McArdle, “ Manhattan No More,” Megan McArdle (blog), Atlantic, November 12, 2008, ...The great reset, how new ways of living and working drive post-crash prosperity
Megan McArdle, “Home Economics,” Atlantic, July–August 2009, ... Benjamin Schwarz, “Life In (and After) Our Great Recession,” Atlantic, October 2009. ...Sex, Drugs, and Body Counts, The Politics of Numbers in Global Crime and Conflict
Atlantic Monthly On-Line, March 27, 2008, http://meganmcardle.theatlantic.com/ archives/2008/03/ iraq_body_count_why_is_it_so_h.php. 16. ...Day-after-day Posts Directory
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Megan McArdle (born January 29, 1973) is a Washington, D.C.-based blogger and ... By 2010, McArdle had also become The Atlantic's business and economics editor. ...
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Megan McArdle : The Atlantic. Economics Lessons From Bolivia's Scuffle With Transportistas ... Will FDA's New Gruesome Warnings Reduce the Number of Smokers? ...