I am appalled that the graph appearing alongside Frank Phillips' report on the gubernatorial race did not include data for Jill Stein (Patrick opens Narrow Lead, Poll Suggests, Boston Globe, October 222nd., 2010: A1).
She is a candidate and she has some some good ideas. By your failure to acknowledge her presence in the race you are unfairly handicapping her.
That is shameful.
I hope you will print a corrected graph.
Sent to Boston Globe
Sunday, November 14, 2010
Special Report on Austerity
Your special report fails to emphasize where the money really is (Recovery, Not Austerity, American Prospect, November 2010: A1).
The money is not in Social Security it is in the financial sector.
The real need in this Century is for a Tobin tax levied on every financial transaction.
This would give us the resources to bring alive the American dream for us all.
Sent to American Prospect
The money is not in Social Security it is in the financial sector.
The real need in this Century is for a Tobin tax levied on every financial transaction.
This would give us the resources to bring alive the American dream for us all.
Sent to American Prospect
The Foreclosure Mess
There is much to agree with in Professor Peiser's Op-Ed (The foreclosure mess, Boston Globe, October 20, 2010: A13).
However his suggestion that those people have suffered from improper foreclosure forego litigation against their mortgage servers is absurd. People need to be able to redress the wrongs committed against them.
One suggestion for cleaning up the mess is for Institutions (banks, state government, federal government) enter into Shared Appreciation mortgages with the distressed homeowner. The homeowners pay what they can, the institution picks up the rest. Both share in any appreciation of the home when it is finally sold.
This has multiple benefits. Only the institution and the homeowner have to agree on a contract. The multiple, often unknown, holders of the mortgage do not need to agree as their cash flow will be unchanged. Homeowners stay in the houses; property taxes continue to be paid; neighborhoods will be stabilized; and school classes will not be disrupted as pupils move as a result of foreclosure.
There are not many solutions with so many beneficiaries.
Sent to Boston Globe
However his suggestion that those people have suffered from improper foreclosure forego litigation against their mortgage servers is absurd. People need to be able to redress the wrongs committed against them.
One suggestion for cleaning up the mess is for Institutions (banks, state government, federal government) enter into Shared Appreciation mortgages with the distressed homeowner. The homeowners pay what they can, the institution picks up the rest. Both share in any appreciation of the home when it is finally sold.
This has multiple benefits. Only the institution and the homeowner have to agree on a contract. The multiple, often unknown, holders of the mortgage do not need to agree as their cash flow will be unchanged. Homeowners stay in the houses; property taxes continue to be paid; neighborhoods will be stabilized; and school classes will not be disrupted as pupils move as a result of foreclosure.
There are not many solutions with so many beneficiaries.
Sent to Boston Globe
Thursday, October 21, 2010
Friday, October 15, 2010
Paternalism and Soda (scroll down for Rosser's letter)
Ezra Rosser is wrong (Letters, October 12, 2010: A24).
Through its massive agricultural subsidies of almost $4 billion per year for corn, the US government keeps the price of soda, laced with corn syrup, low for all of us.
Through its massive agricultural subsidies of almost $4 billion per year for corn, the US government keeps the price of soda, laced with corn syrup, low for all of us.
The Paralysis of the State
I agree with David Brooks that unfunded public (and private) sector pensions are a major problem that must be faced sooner rather than later (The Paralysis of the State, New York Times, October 12, 2010: A25).
There are however two points with which I must take issue. First is his statement that public sector workers average $14.00 more than private sector workers; traditionally the gap has been in the other direction with private sector workers earning a premium over public sector workers. This reversal is not due to the irresponsible generosity of public sector employers; rather it is due to the fact that private sector wages have stagnated due to top management of private sector employers (and especially the very top managers) having reaped in their pay an benefit packages all the gains in productivity that have been achieved in America over the past decade.
Secondly, under the traditional model, the lower public sector wage was balanced by enhanced job security and good pensions. Security is gone especially at the state and local level. These pensions are not undeserved, they compensate for years when the wage gap was in the opposite direction.
As citizens we need to do two things: We must ensure that pension funds for state and local governments be merged so as to minimize administrative costs and increase the actuarial benefits that come from a larger pool of pensioners; we must also make sure that, once there is an economic recovery, we raise taxes to properly fund these benefits.
There are however two points with which I must take issue. First is his statement that public sector workers average $14.00 more than private sector workers; traditionally the gap has been in the other direction with private sector workers earning a premium over public sector workers. This reversal is not due to the irresponsible generosity of public sector employers; rather it is due to the fact that private sector wages have stagnated due to top management of private sector employers (and especially the very top managers) having reaped in their pay an benefit packages all the gains in productivity that have been achieved in America over the past decade.
Secondly, under the traditional model, the lower public sector wage was balanced by enhanced job security and good pensions. Security is gone especially at the state and local level. These pensions are not undeserved, they compensate for years when the wage gap was in the opposite direction.
As citizens we need to do two things: We must ensure that pension funds for state and local governments be merged so as to minimize administrative costs and increase the actuarial benefits that come from a larger pool of pensioners; we must also make sure that, once there is an economic recovery, we raise taxes to properly fund these benefits.
Mankiw's Motivation
I do not think that Mr. Mankiw writes for money (I Can Afford Higher Taxes, But They'll Make Me Work Less. New York Times Sunday Business, October 10, 2010: page 3).
I believe that he writes to share his ideas with the rest of us. He accepts speaking engagements so that he can influence senior corporate executives and government officials. He speaks and writes so that, ever so slightly, he can influence the economic policy of our country. He writes so as to leave a name for posterity.
Money is merely a by-product of of his activity. His motivation is intrinsic. If the group making the invitation was influential enough, I am sure he would speak to them for free.
I believe that he writes to share his ideas with the rest of us. He accepts speaking engagements so that he can influence senior corporate executives and government officials. He speaks and writes so that, ever so slightly, he can influence the economic policy of our country. He writes so as to leave a name for posterity.
Money is merely a by-product of of his activity. His motivation is intrinsic. If the group making the invitation was influential enough, I am sure he would speak to them for free.
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