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Paper delivered at Annual Meetings, Association for Evolutionary Economics (AFEE), Chicago, January 8, 2012 Major Outline The Pecora Hearings, 1933. Another 10 days that shook the world. Hearings sponsored by a dying Republican Congress. Role of Hoover, seeking scapegoat. Role of Senator Norbeck of S.D., an echo of earlier progressive Republicans of the Bull Moose . . . → Read More: Reverberations between Immoderate Land-Price Cycles and Banking Cycles  Comments are closed  Essay  Banking, Land Economics - Macroeconomics, Macroeconomic stability, Politics Once upon a time each building was written off from taxable income over something purporting to approximate its economic life. Then Congress and the industry began implementing the Commons variation of the George principle. They began shortening tax lives and steepening the gradient of depreciation paths. The light broke on most of us with . . . → Read More: Land Gains, Fast Write-Off, and Incentives to Build Comments are closed Address, Publication Banking, Depreciation, Economic History, Macroeconomic stability, Macroeconomics, Public finance |
Is the Bailout Justified?
QUESTION: We hear that the feds HAD to bail out Fannie and Freddie because of the terrible consequences of letting them fail. How much of that is real and how much is bunk? I’d have thought that if the companies go bankrupt, their stock sells for pennies on the dollar and the new owners can . . . → Read More: Is the Bailout Justified?