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Burgess COMMENTARY Peter Burgess | ||
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Original article:
http://portal.ineteconomics.org/webmail/601791/671423177/53b46cf713e5d109416796249da05bf7f6dee7d01b904fa12e9d2ddea1321158
CBO Not Competent to Assess Economics of Minimum Wage The Institute for New Economic Thinking INET Newsletter What's Going On In November—and in the Georgia Senate runoffs in January—Congressional Democrats won a mandate for a long-standing progressive priority: raising the minimum wage to $15/hour. But right after introducing legislation to that effect last month, the Congressional Budget Office (CBO)—a non-partisan but generally pro-austerity body—issued a report decrying it as a jobs-killer. For INET, economist James K. Galbraith takes the CBO to task for offering an erroneous analysis of the minimum wage hike that it's unqualified to give. This week we also published a new working paper by Anton Korinek and Joe Stiglitz that shows how much-feted advancements in artificial intelligence could pose new challenges for economic development. And make sure to join us next Tuesday for a new Debt Talks webinar on whether the COVID recession could trigger a broader financial meltdown. ------------------- CBO Not Competent to Assess Economics of Minimum Wage Article by James K. Galbraith James K. Galbraith slams “unreliable” report claiming that raising the minimum wage would reduce jobs. ------------------- Artificial Intelligence Could Mean Technological Advancement—But Only for a Privileged Few Article and Working Paper by Anton Korinek and Joe Stiglitz Labor-saving advances in AI may undo the gains from globalization and pose new challenges for economic development. ------------------- Can Biden Successfully Govern? Podcast with Robert Kuttner American Prospect editor Robert Kuttner talks about how the faith in Democracy and in the state have suffered tremendously over the past two decades, how it can be restored, and what impact this loss of faith will have on the Biden presidency. ------------------- Linear Relationship Between Money and Election Outcomes Continued in 2020 Podcast with Thomas Ferguson INET’s Research Director Thomas Ferguson discusses the latest analysis he and his colleagues have conducted of campaign spending in the 2020 election cycle. The result dispels the myth that money has lost significance and that Republicans were at a significant disadvantage. ------------------- Debt Talks Episode 6: Who’s Afraid of European Banks? Ucpcoming Webinar with Martin Arnold, Elena Carletti, Richard Vague, Thomas Fricke and Moritz Schularick Tuesday, February 23 @ 12p ET Does the COVID recession still have the potential to turn into a broader financial meltdown? Copyright © 2020, All rights reserved. Our mailing address is: Institute for New Economic Thinking 300 Park Ave S, 5th Floor New York, NY 10010
| The text being discussed is available at | http://portal.ineteconomics.org/webmail/601791/671423177/53b46cf713e5d109416796249da05bf7f6dee7d01b904fa12e9d2ddea1321158 and |