Daily Clips: April 17, 2017

Morgan Stanley’s CEO says repealing Dodd-Frank would be a mistake

Are sectorial unions the way of the future?

Sectoral bargaining is certainly getting more attention in legal academic and labor law policy debates,” Benjamin Sachs, a professor at Harvard law school and former practicing labor lawyer, says. ‘The way I would think about it is that there’s an existential panic about what will happen to the labor movement. That’s not new, it’s just getting worse … If we need unions for economic and political equality as I think we do, we have to do something to stop that downward spiral.’

Why don’t all jobs matter?

While we can’t stop job losses from happening, however, we can limit the human damage when they do happen. We can guarantee health care and adequate retirement income for all. We can provide aid to the newly unemployed. And we can act to keep the overall economy strong — which means doing things like investing in infrastructure and education, not cutting taxes on rich people and hoping the benefits trickle down.

Tax cuts don’t work the way trickle downers think:

Tax cuts that go to high-income taxpayers generate less growth than…cuts for low and moderate income taxpayers.

Why the 101 model doesn’t work for labor markets:

Labor is a crucial input in so many markets that it really needs to be dealt with in general equilibrium – in other words, by analyzing all markets at once – rather than by treating it as a single market in isolation. That makes the basic Econ 101 partial-equilibrium model pretty useless for analyzing labor.

WA passes Student Loan Transparency Act: 

Starting next year, Washington college students who take out student loans will get an email or letter from their school telling them how much they owe and how much their monthly loan payments will be after graduation.

Wow, what an amazing step forward. Now when students take out tens of thousands of dollars in loans they’ll know how much they’ll need to repay. I am so sick of all this winning! WA is so progressive!

Nick Cassella

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