Hydroxychloroquine After Action Report

I was a vehement advocate of prescribing hydroxychloroquine (HCQ) off label while waiting for the results of clinical trials. I wasn’t all that much embarrassed to agree with Donald Trump for once. Now I feel obliged to note that my guess was totally wrong. I thought that the (uncertain) … [Read More...]

Antiviral Rumors

Tired: Remdesivir Wired: Merimopodib Inspired: Both Merimopodib (of which I just read for the first time) is an inhibitor of an enzyme used to make Guanosine. Viruses need a lot of Guanosine (and other nucleosides) to reproduce, so it is an antiviral. It can be taken orally and there is … [Read More...]

Remdesivir VIII

There is a severe Remdesivir shortage On March 2 2020, I warned you that this was going to happen. I did not warn about the opaque and arbitrary Trump administration policy, because the Trump administration is always “worse than you imagine possible even taking into account the fact that it is … [Read More...]

Evidence Based Medicine

Here Trisha Greenhalgh, an actual expert, writes what I have been trying to write. In a Twitter thread. Please click the link. Two key tweets But the principle of waiting for the definitive RCT [randomized controlled Trial] before taking action should not be seen as inviolable, or as always defining … [Read More...]

What has Science Established ?

I want to try to punch above my weight (and be a troll) and contest this Dr. Kathryn Hibbert, director of the medical intensive care unit at Massachusetts General Hospital … said it will take weeks or months to get results and doctors and patients will need to wait for … [Read More...]

Economic Policy for the Pandemic II

I am going to attempt a briefer clearer version of this post I am interested in critiquing (and mostly praising) the CARES Act and discussing what still needs to be done. I think my points (if any) are that an extraordinary unforseen crisis simplifies some issues and relaxes some constraints. … [Read More...]

Rome Update

For 3 days from an abundance of caution, 4 hours a day of online teaching responsibilities and extreme laziness, I have stayed in an apartment usuaally in a bed. Rome is a bit different than was I went into hibernation. There are people walking around without dogs on a leash. Some cars. … [Read More...]

Rick Wilson, His Former Party and 1984

I really enjoy Rick Wilson’s thoughts on the Republican Party, his former party until 3 years ago. I don’t know which part of his latest Washington Post Op-ed I like most but here goes: As the saying goes, you had one job, Republicans. Now? Your job really isn’t … [Read More...]

Lucas, Jenner, Washington, Shaw

I am thinking about modern macroeconomic methodology again. I am also thinking about the fresh water school of thought. Also I am thinking about aspirin and smallpox. I am going to attempt a nickle summary of the Lucas critique (really a half penny summary or a 5 Turkish Lira summary). Lucas … [Read More...]

Angry Bair

Sheila Bair, who ran the FDIC during the crisis, argues against further bank bailouts. She earned great respect. One thing, which she doesn’t mention, is that she refused to let Geithner use the FDIC trust fund to bear the lower tail risk while leaving the upper tail profits to … [Read More...]

Fiscal Policy and GDP 2019 update

I think it might be time for an update on the crudest of tiny sample reduced form analysis of fiscal policy and the current recovery. One reason for my continued interest is that there was a rather large tax cut enacted in 2017. Trump critics tend to argue that it failed … [Read More...]

The Limits of Human Joy and Sorrow

In this post I will use revealed preference and assume people are rational. Sorry. I’m an economist and I can’t entirely resist. I will argue that our joy and suffering is bounded, that we can’t be infinitely happy or infinitely miserable. The first argument is standard, the … [Read More...]

Tax the Rich

Dylan Matthews has a typically excellent explainer about taxing the rich. Just click the link. I have one thought. Matthews is soft on capital income. Matthews wrote Saez and Diamond also argued that capital income — income from things like capital gains, corporate profits, dividends, etc. — should be taxed, … [Read More...]

Neoliberals Passing the Baton

Brad DeLong got a huge amount of attention by saying it was time for neoliberals such as Brad DeLong to pass the baton to those to their left. Alarmingly, he seems to have written this first on twitter. Zach Beuchamp rescued it from tawdry twitter to now very respectable blogosphere … [Read More...]