bradford-delong.com

Concrete Economics: The Hamilton Approach to Economic Growth and Policy

Stephen S. Cohen and J. Bradford DeLong: Concrete Economics: The Hamilton Approach to Economic Growth and Policy: (Allston, MA: Harvard Business Review Press: 1422189813) http://amzn.to/1XxIyPV

Steve Cohen and I have a new book coming out from Harvard Business Review Press on March 1, 2016. A very short book. Easy and quick to read. Easy and quick to read because it tries to make one big and very important point, and avoid being distracted from it:

America’s debate about economic policy goes way wrong whenever it is ruled by ideology.

It doesn’t matter much which ideology—a rigid and ideologized Hamiltonianism would have been (almost) as bad as rigid-Jeffersonianism, an excessive attachment to outmoded industries or to ways of delivering social-insurance that were merely emergency expedients when adopted in the 1930s would be (almost) as bad as the market-worshipping sects of neoliberalism. Thus we say:

America’s debate about economic policy goes largely right whenever it is ruled by pragmatism.

Successes come whenever the question asked and answered is: What concrete steps can we take, here and now, to make America more prosperous and to share the fruits of growth equitably? Failures come whenever the question asked and answered is: Do these policy proposals conform to the ideas of Adam Smith or Edmund Burke or William Beveridge or even John Maynard Keynes?—let alone those of the Karl Marxes, the Friedrich von Hayeks, and the Ayn Rands.

So I now have a problem. HBR Press would be extremely annoyed if I were to simply dump the book (or large parts of the book) online. But I really do want to do so. I am excited about the big idea. And I want this big idea to get out into the world undistorted.

So how should Steve and I tease this book of ours?

• Some very nice thoughts about our "Concrete Economics" from the extremely-sharp Justin Fox
• Leading Business Books: A Radically Different Version of Economic History
• The Street: Steve Cohen: Economy Needs to Follow Hamilton’s Founding Formula
• "Concrete Economics": Justin Fox on how the U.S. could use a new economic strategy...
• "Concrete Economics": Justin Fox Tells People Where to Go to Learn About Hamilton's Economic Strategy
• "Concrete Economics": Ed Luce Says Some Very Nice Things About Steve Cohen's and My Forthcoming "Concrete Economics"
• The "In Praise of Alexander Hamilton" Section from Our "Concrete Economics". In Fortune Online
• "Concrete Economics": As You Can Tell, I at Least Am Trying to Sail as Close to the "Hamilton" Musical Boom as I Can...
• Concrete Economics: The Hamilton Approach to Economic Growth and Policy

Current Links

Most-Recent Must-Reads:

• Olivier Blanchard et al.: Reality Check for the Global Economy
• Katie Martin: Just a reminder...
• John Plender: Uncertainty Principles: ‘The End of Alchemy’, by Mervyn King

Most-Recent Links:

• Mark Thoma: Economics Isn’t Textbook: Why We Need to Raise the Minimum Wage
• Josiah Child (1668): Brief Observations Concerning Trade and Interest of Money
• Ken Macleod: The Liberalism of Fools

Comment of the Day: Maynard Handley: Kasich and Sanders: "In both cases this analysis ('The situation has not developed to their advantage')...

...assumes that their goals were to be elected president in 2016. This is not necessarily the case.

Liveblogging the Cold War: March 10, 1946: Walter Lippman's Reaction to Churchill's "Iron Curtain" Speech

(Early) Monday Smackdown: Ezra Klein on the Execrable Josh Kraushaar: Obamacare Didn’t Pave the Way for Donald Trump. The GOP’s Response to it Did

Barack Obama promised his supporters that he would run a government not for Blue States or Red States but for the United States. And to that end he adopted John McCain's global-warming policy, Mitt Romney's healthcare policy, George H.W. Bush's foreign policy, Bill Clinton's tax policy, Ben Bernanke's preferred fiscal policy--and kept Ben Bernanke on at the Fed to run monetary policy--and continued the George W. Bush/Henry Paulson banking- and housing-crisis policy. Thoroughly centrist, thoroughly technocratic governance.

And yet the execrable Josh Kraushaar claims that the radical-left policies of the Kenyan Muslim Socialist have driven the Republican Party justifiably mad.

Ezra Klein delivers the proper smackdown:

Ezra Klein: Obamacare didn’t pave the way for Donald Trump. The GOP’s response to it did: "Political Twitter fell all over itself mocking this article [by Josh Kraushaar] blaming Al Franken for the rise of Donald Trump...

Live from Mayfair: Benjy Sarlin: On Twitter: "'Daisy' is most famous LBJ ad...:

"Daisy" is most famous LBJ ad, but watch "Confessions of a Republican." There would be Trump equivalent: https://t.co/km7LBzoUh6

— Benjy Sarlin (@BenjySarlin) March 3, 2016

https://t.co/km7LBzoUh6

Liveblogging the Mexican Revolution: March 9, 1916: Battle of Columbus

Wikipedia: Battle of Columbus:

After the 1915 Battle of Celaya, where Villa sustained his greatest defeat, the Division of the North was in shambles, wandering around northern Mexico foraging for supplies. Lacking the military supplies, money, and munitions he needed in order to successfully pursue his war against Mexican President Venustiano Carranza, Villa planned the raid and camped his army of an estimated 500 horsemen outside of Palomas on the Mexican side of the border. The reasons for the raid have never been established. At their camp, Villa and his men waited for his returning patrols.

Liveblogging the American Revolution: March 8, 1778: Abigail Adams to John Adams

Abigail Adams: Letter to John Adams:

Tis a little more than 3 weeks since the dearest of Friends and tenderest of Husbands left his solitary partner, and quitted all the fond endearments of domestick felicity for the dangers of the Sea, exposed perhaps to the attack of a Hostile foe, and o good Heaven can I add to the dark assassin, to the secret Murderer and the Bloody Emissary of as cruel a Tyrant as God in his Riteous judgments ever sufferd to Discrace the Throne of Brittain.

Must-Read: Leading Business Books: A Radically Different Version of Economic History: "Review of: Concrete Economics... by: Stephen Cohen and Bradford DeLong...

...If you thought the US achieved its great wealth through free markets and small government, you might not have been paying close attention to actual history, according to the authors of this book.

Must-Read: Olivier Blanchard et al.: Reality Check for the Global Economy: "After five years of disappointing recovery throughout the major economies...

...almost everyone is ready to believe the worst. The widespread large declines in global asset prices indicate a significant divergence between what financial markets fear and what most mainstream macroeconomic forecasts are showing for the world economy. Having some clarity to distinguish between the more solid underlying economic outlook and the shadows thrown by financial puppetry is critical to avoid an unnecessary recession.

Must-Read: Katie Martin: Just a reminder...:

Just a reminder that the ticker on the Norwegian oil fund site is awesome
BEHOLD OUR WEALTH https://t.co/bK7MbdogDc pic.twitter.com/r2bLz0RJQd

— Katie Martin (@katie_martin_fx) March 9, 2016

https://t.co/bK7MbdogDc | https://t.co/r2bLz0RJQd

Must-Read: Some very nice thoughts about our Concrete Economics from the extremely-sharp Justin Fox:

Justin Fox: The U.S. Could Use a New Economic Strategy: "In his four-plus years as the country's first treasury secretary...

Live from Mayfair: Rick Perlstein: The Truth About Donald Trump’s Populism: "There’s a reason the saying ‘anti-Semitism is the socialism of fools’...

...made so much sense in Weimar Germany. Why has Donald Trump been so successful? Matt Taibbi, in Rolling Stone, thinks he has the answer.

Hoisted from Two Months Ago: Future Economists Will Probably Call This Decade the 'Longest Depression'

Over at Huffington World Post: Future Economists Will Probably Call This Decade the 'Longest Depression': Posted: 01/08/2016 9:28 am EST Updated: 49 minutes ago: Economist Joe Stiglitz warned back in 2010 that the world risked sliding into a 'Great Malaise.' This week, he followed up on that grim prediction, saying, 'We didn't do what was needed, and we have ended up precisely where I feared we would.'

Procrastinating on March 9, 2016

Over at Equitable Growth--The Equitablog:

• Nick Bunker: Why is U.S. labor market fluidity drying up?
• John Plender: Uncertainty Principles: ‘The End of Alchemy’, by Mervyn King
• Simon Wren-Lewis: The 'Strong Case' Critically Examined
• Thomas Piketty: A New Deal for Europe

Must-Read: John Plender: Uncertainty Principles: ‘The End of Alchemy’, by Mervyn King: "King’s hugely ambitious aim in his book is to put an end to the alchemy...

mainly macro: The 'strong case' critically examined

Simon Wren-Lewis: The 'Strong Case' Critically Examined: "The deficit obsession that governments have shown since 2010...

Comment of the Day: Robert Waldmann: commenting on: The Strong Case Against Independent Central Banks: "I think it is hard to determine the relative importance...

...of central bank independence and of the myth that stagflation proved that Keynesian economics was invalid.

Live from the Dorchester: Ed Luce: The Painful Twilight of Barack Obama’s Presidency: "Call it the curse of high expectations...

...When Barack Obama took office, the world swooned, America exhaled and pundits declared an end to centuries of racial division.... Today America’s first non-white president is winding down at the nation’s tensest moment of racial polarisation in decades. Thanks to Donald Trump, the Ku Klux Klan is back in the headlines.... Nations, it seems, suffer from similar disorders to humans — what happens in their formative years shapes their character for evermore. Just as India sees foreign investors as potential colonisers, and Britain confuses Brussels with the papacy, so the US is enchained to its original sin of slavery....

Live from SFO: Who decides that Peter Hart is a "leading Democratic pollster" rather than "an attention-seeking git"?

What is your favorite Clinton form?

Al Hunt: "‘Her history is that whenever she gets ahead and looks in good shape, she reverts to her worst form,’ says Peter D. Hart, a leading Democratic pollster...

Personally, Mothra is my least favorite Clinton Form. But I do love it when she does the twins from "The Shining." pic.twitter.com/Zp4YmHhqDc

— Sady Doyle (@sadydoyle) March 6, 2016

.@sadydoyle My favorite Clinton form is Rhan-Tegoth Who Devours but personally I find YogSothoth the All-Seeing All-Being Blight a bit showy

— Dr.Scotticus (@DocScotticus) March 6, 2016

This is my favorite Hillary form... @sadydoyle @KateHarding pic.twitter.com/fDkX2F2lNe

— the_amphibian (@the_amphibian) March 6, 2016

I always preferred the form of a giant Sloar. https://t.co/Fw6jSHA3yf

— Charles Gaba (@charles_gaba) March 8, 2016

Vinz Clortho: Sloars: "Then, during the Third Reconciliation of the Last of the Meketrex Supplicants, they chose a new form for him, that of a giant Sloar! Many Shubs and Zulls knew what it was to be roasted in the depths of a Sloar that day, I can tell you!"

Live from La Farine: Josh Marshall: Lust for Destruction: "A Trump v Clinton general election will be fought over the roughly 10% of the electorate...

...which is not firmly anchored in the right/center-right or left/center-left blocs of American politics. It will likely be fought out over the distinction between Trump's policies and the Democrat's. But it will be fought out on conventional political norms - not ones in which rule-breaking and transgressive behavior are positive good in themselves.

Live from La Farine: BrightestYoungThings: Movie Review: Zootopia: "Zootopia... has more in common with Orwell’s ‘Animal Farm’...

The Street: Steve Cohen: Economy Needs to Follow Hamilton’s Founding Formula

Steve Cohen: Economy Needs to Follow Hamilton’s Founding Formula:

The role of the government in growing and directing the U.S. economy is often hotly debated and often overlooked, but it goes back to what Alexander Hamilton set into motion as the country’s first Secretary of the Treasury, said Stephen Cohen, author of Concrete Economics. 'It’s a simple game where entrepreneurs and government come together to reshape the economy,' said Cohen. 'It’s like tigers mating, they don’t sit around and cuddle very long.' Cohen is a professor emeritus of city and regional planning at the University of California at Berkeley. He also codirects the Berkeley Roundtable on the International Economy. His previous books include The End of Influence with J. Bradford DeLong. Cohen said that Hamilton used tariffs to protect the fledgling nation’s fragile economy in a deliberate and 'concrete' manner. He said presidents Lincoln, Roosevelt (FDR) and Eisenhower similarly took the lead in opening new economic spaces.

Comment of the Day: Graydon: : "Care to specify one of those problems?...

Monday Smackdown: Rumpublicans Shirking Responsibility

Jim Henley: On Twitter: The Party of Personal Responsibility makes clear that Donald Trump is someone else's fault:

The Party of Personal Responsibility makes clear that Donald Trump is someone else's fault: https://t.co/8Br6vWeoWt

— Jim Henley (@UOJim) March 5, 2016

https://t.co/8Br6vWeoWt

Monday Smackdown: David Remnick on How the Rumpublicans Created the Trumpublicans

In their eagerness to fall victim to the twin curses of Barry Goldwater and Richard Nixon, the Rumpublicans danced up to and over the line--and now are watching as Donald Trump takes their entire organizational base away from them...

David Remnick: American Demagogue: "Trump is... the beneficiary of a long process of Republican intellectual decadence...

Memo question for March 9: Introduction to Economic History

: Memo question for March 9: Introduction to Economic History: "The U.S. and European financial systems developed very differently in the course of the 19th century. What factors – economic, political, historical and other – help to explain their differing evolution and the contrasting financial structures that resulted? How much did these differences matter, and for what?"

Live from La Farine: Daniel Drezner: "It's comments like these...:

It's comments like these that make me understand the liberal desire for a "purging fire" to cleanse the GOP. https://t.co/iKwhgASpuq

— Daniel Drezner (@dandrezner) March 6, 2016

Sabrina Siddiqui: "Lindsey Graham on SCOTUS vacancy:

Lindsey Graham on SCOTUS vacancy: "The person I admire the most is me. And if [Obama] nominated me, I wouldn't vote for me this year."

— Sabrina Siddiqui (@SabrinaSiddiqui) March 6, 2016

Procrastinating on March 7, 2016

Over at Equitable Growth--The Equitablog:

• Tim Worstall: Brookings Is Wrong On The Productivity Slowdown
• Isaac Shapiro et al.: It Pays to Work: Work Incentives and the Safety Net
• Charles Steindel (2009): Implications of the Financial Crisis for Potential Growth:Past, Present, and Future
• Simon Wren-Lewis: The Strong Case Against Independent Central Banks
• Thomas Piketty, Paul Krugman and Joseph Stiglitz: The Genius of Economics

Must-Read: Tim Worstall: Brookings Is Wrong On The Productivity Slowdown: "My own favoured example being that in our current GDP numbers globally...

Live from Over the Front Range of the Rockies: Erik Loomis: 2 Degrees: "For the first time, the Northern Hemisphere averaged 2 degrees Celsius above average on March 3...

...blasting through a long-held limit of what acceptable climate change would look like. But no one really cares. Let’s just talk of nothing but Trump.

Links for the Week of March 6 2016

Latest Must-Reads:

• Isaac Shapiro et al.: It Pays to Work: Work Incentives and the Safety Net
• Charles Steindel (2009): Implications of the Financial Crisis for Potential Growth:Past, Present, and Future
• Simon Wren-Lewis: The Strong Case Against Independent Central Banks
• Thomas Piketty, Paul Krugman and Joseph Stiglitz: The Genius of Economics

Latest Links:

• James Heckman (1999): Causal Parameters and Policy Analysis In Economics: A Twentieth Century Retrospective
• Jeff Guo: Death predicts whether people vote for Donald Trump
• Charlie Stross: Towards a taxonomy of cliches in Space Opera - Charlie's Diary
• Sheen S. Levine et al.: Ethnic Diversity Deflates Price Bubbles
• Barry Eichengreen: Worries About the year 2020 (and the Next President)

Live from the Roasterie: The situation has not developed completely to either John Katich's or Bernie Sanders's advantage:

Must-Read: Charles Steindel (2009): Implications of the Financial Crisis for Potential Growth:Past, Present, and Future: "The scale of the recent collapse in asset values and the magnitude of the recession...

Must-Read: Simon Wren-Lewis: The Strong Case Against Independent Central Banks: "In the post war decades there was a consensus...

Must-Watch: Mark Thoma sends us to: Thomas Piketty, Paul Krugman and Joseph Stiglitz: The Genius of Economics: "Piketty, arguably the world’s leading expert on income and wealth inequality...

...does more than document the growing concentration of income in the hands of a small economic elite. He also makes a powerful case that we’re on the way back to ‘patrimonial capitalism,’ in which the commanding heights of the economy are dominated not just by wealth, but also by inherited wealth, in which birth matters more than effort and talent,’ wrote Paul Krugman in The New York Times. Krugman and his fellow Nobel laureate Joseph Stiglitz (author of The Great Divide) join Piketty to discuss the genius of economics.

Liveblogging the Cold War: March 7, 1946: Eleanor Roosevelt

Eleanor Roosevelt: My Day:

NEW YORK, Wednesday— I think the time has come for us as a nation, perhaps for various nations, throughout the world to decide what really offers us the best chance for peace in the future. Mr. Churchill's speech in Missouri indicates his belief as a private individual that the future peace of the world can best be guaranteed by a military alliance between Great Britain and the United States. He believes that the people of both our countries want peace, but for some reason he is not equally sure apparently that this is the case where the peoples of other nations are concerned.

Live from La FarineJohn Scalzi: "Sanders won more States today but Clinton won more delegates...":

As I understand it Sanders won more States today but Clinton won more delegates, so Sanders is now actually further behind than before. Huh.

— John Scalzi (@scalzi) March 6, 2016

Procrastinating on March 6, 2016

Over at Equitable Growth--The Equitablog:

• What is the economy's speed limit?
• Nick Bunker: Weekend reading: Our new working paper series, UI extensions, and more
• Justin Fox: The U.S. Could Use a New Economic Strategy
• David M. Byrne et al.: Does the United States Have a Productivity Slowdown or a Measurement Problem?
• Ryan Cooper: Who's Afraid of John Maynard Keynes?
• Mark Kleiman: Trade and Downward Class Warfare

Liveblogging World War I: March 6, 1916: Verdun

History.com: New German attacks at Verdun: Battle of the Flanks:

During a punishing snowstorm, the German army launches a new attack against French forces on the high ground of Mort-Homme, on the left bank of the Meuse River, near the fortress city of Verdun, France, on this day in 1916....

Live from the Rumpublicans' Self-Made Gehenna: Brian Buetler (October 2015): Marco Rubio isn't the Obama of the GOP. He's the John Edwards: "Though Trump is the front-running candidate, and Bush’s most persistent antagonist...

(Early) Monday Smackdown: Jonathan Chait on Bobby Jindal

Jonathan Chait: On Twitter: "Jindal: By being too calm & intellectual, Obama forced Republicans to nominate angry moron:

Jindal: By being too calm & intellectual, Obama forced Republicans to nominate angry moron https://t.co/cED023Co35 pic.twitter.com/YlctHq5RLE

— Jonathan Chait (@jonathanchait) March 4, 2016

Weekend Reading: Robert Waldmann: New Keynesian Orthodoxy and Hysteresis

Weekend Reading: Robert Waldmann: New Keynesian Orthdoxy and Hysteresis: "The debate between Gerald Friedman and the economics profession seems to be settled...

...Friedman agrees that he may have made a mistake. It is really unfair to him that preliminary unpublished analysis received so much attention (mostly from the Sanders campaign). Oh and it is unfair to them to expect them to ignore favorable forecasts made by a Clinton supporter of the effects of Sanders’s proposals. The discussion did lead to an interesting discussion.

Uh on twitter:

Liveblogging the Cold War: March 5, 1946: WInston S. Churchill: "From Stettin... to Trieste... an Iron Curtain Has Descended..."

"From Stettin in the Baltic to Trieste in the Adriatic, an iron curtain has descended across the Continent. Behind that line lie all the capitals of the ancient states of Central and Eastern Europe. Warsaw, Berlin, Prague, Vienna, Budapest, Belgrade, Bucharest and Sofia, all these famous cities and the populations around them lie in what I must call the Soviet sphere, and all are subject in one form or another, not only to Soviet influence but to a very high and, in many cases, increasing measure of control from Moscow..."

Winston S. Churchill: "Iron Curtain" Speech at Westminster College in Fulton, MO:

I am glad to come to Westminster College this afternoon, and am complimented that you should give me a degree.

The name "Westminster" is somehow familiar to me. I seem to have heard of it before. Indeed, it was at Westminster that I received a very large part of my education in politics, dialectic, rhetoric, and one or two other things. In fact we have both been educated at the same, or similar, or, at any rate, kindred establishments.

Econ 1: Spring 2016: U.C. Berkeley: Microeconomics: How Markets Go Wrong

• Lecture: Market Power | Webcast
• Reading: FBAH ch. 8
• Section: Exercise 8/9 | Answers
• Lecture: Calculating Monopoly | Webcast
• Section: Exercise 10/11 | Answers
• Lecture: Regulating Monopoly and Strategic Interactions | Webcast
• Reading: FBAH ch. 9
• Section: Exercise 17/18 | Answers

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• Lecture: Externalities and Property Rights | Webcast
• Reading: FBAH ch. 10
• Section: Exercise 22/23 | Answers
• Assignment: Problem Set 3 | Answers
• Lecture: Instructor Reality Check | Webcast
• Section: Exercise 24/25 | Answers
• Lecture: Information Economics and Adverse Selection | Webcast
• Reading: FBAH ch. 11
• Section: Exercise 29/1 | Answers
• Lecture: Benefit-Cost Analysis | Webcast
• Reading: FBAH ch. 13
• Assignment: Problem Set 4/Sample Midterm | Answers

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• Lecture: Income Distribution and Labor Markets
• Reading: FBAH ch. 12
• Section: Exercise
• Lecture: Public Goods
• Reading: FBAH ch. 14
• Section: Exercise
• Reading: Over Spring Vacation: read Tom Slee, Nobody Makes You Shop at Wal-Mart and Milton Friedman and Rose Director Friedman, Free to Choose
• Assignment: Short Paper

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• Lecture: Political Economy and Review

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Course Master Syllabus Page: http://www.bradford-delong.com/course-syllabus-econ-1-spring-2016-uc-berkeley.html

Econ 1: Spring 2016: U.C. Berkeley: Microeconomics: What Markets Get Right

• Lecture: Supply and Demand | Webcast || Pieces: Microeconomics Intro | Economic Models | Digression: Liberal Education | Specialization and the Division of Labor | The Production Possibility Frontier | The "Price Mechanism" | Supply and Demand

  • Reading: FBAH ch. 3; note that ch. 4 we largely skip
  • Section: Exercise 25/26 | Answers
  • Assignment: Letter to GSI

• Lecture: Equilibrium and Surplus | Webcast || Pieces: Market Equilibrium | The Algebra of Supply and Demand | Economic Surplus

  • Reading: FBAH ch. 5
  • Section Exercise 27/28 | [Answers]

• Lecture: Surplus II: Quotas, and Price Ceilings | Webcast || Pieces: PPF --> Supply Curve | Economic Surplus II | Distorting the Market: Quotas | Distoring the Market: Price Ceilings and Price Floors | The Market: A Balance Sheet

  • Reading: FBAH chs. 5-7; note that ch. 6 we largely skip
  • Section: Exercise 1/2 | Answers
  • Assignment: Problem Set 1 | Answers

• Lecture: Shifting and Tilting Supply and Demand Curves | Webcast || Pieces: Alfred and Mary Paley Marshall's Analytical Toolkit | "Comparative Statics" | Shifting the Supply Curve | Tilting the Supply Curve | Shifting and Tilting the Demand Curve | The Market: Balance Sheet | Resources

  • Reading: FBAH ch. 7
  • Section: Exercise 3/4 | Answers
  • Assignment: Problem Set 2 | Answers

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Course Master Syllabus Page: http://www.bradford-delong.com/course-syllabus-econ-1-spring-2016-uc-berkeley.html

Econ 1: Spring 2016: UC Berkeley: Thinking Like an Economist

• Lecture: Course Intro: Thinking Like an Economist | Webcast || Pieces: (Optional) Over Winter Break | Course Intro | Course Policies | Microeconomics Intro | Thinking Like an Economist
• Reading: Bernanke, Frank, et al. chs 1-2
• Reading: Partha Dasgupta (2007): Economics: A Very Short Introduction http://amzn.to/1ZpuFCQ (Oxford: Oxford University Press: 9780192853455)
• Assignment: Come to your first section prepared to discuss Economics: A Very Short Introduction

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Course Master Syllabus Page: http://www.bradford-delong.com/course-syllabus-econ-1-spring-2016-uc-berkeley.html

Weekend Reading: McKay Coppins: The One Thing I Didn't Get Wrong About Donald Trump

McKay Coppins: The One Thing I Didn't Get Wrong About Donald Trump: "About half an hour into Thursday night’s presidential debate...

...Republican frontrunner Donald Trump took a moment to call me out for the worst prediction of my career. It happened when a moderator asked him to respond to a recent BuzzFeed News report that he had secretly hedged on his hardline immigration proposals during an off-the-record interview with liberal New York Times editors. Trump responded, characteristically, with a small declaration of victory:

For the Weekend

Carol Burnett: Star Trek:

"

Must-Read: Justin Fox: The U.S. Could Use a New Economic Strategy: "In his four-plus years as the country's first treasury secretary...

"Concrete Economics": Justin Fox Tells People Where to Go to Learn About Hamilton's Economic Strategy

Stephen S. Cohen and J. Bradford DeLong: Concrete Economics: The Hamilton Approach to Economic Growth and Policy (Cambridge, MA: Harvard Business Review Press: Harvard Business Review Press 1422189813)...

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Hamilton: Cabinet Battle #1: