Wednesday, July 15, 2009


Frédéric Mitterrand compares Orelsan to Rimbaud and thinks the Francofolies polemic is ridiculous. You decide:

The Last Refuge of a Scoundrel

Martine Aubry has lost it. Stunned by her party's loss in the European elections, unable to unite warring factions, she is now threatening to expel those most impatient of her leadership and ambitious to strike out in a new direction. She sent a letter to Manuel Valls, in which she invited him to "draw the full conclusions" from his criticisms and either step back in line or leave the party.

The stupidity of this move cannot be overstated. It is a confession of impotence by the party leader and yet another sign that the much-awaited "renovation" of the party is never going to happen. Perhaps Aubry is right, though: maybe it is time for the party to admit defeat and see if something new emerges from the rubble.

For Econ Geeks

Those of you who follow debates in economics are no doubt aware of the raging controversy about the so-called "Keynesian multiplier" associated with various economic policy alternatives. Whether or not it is wise to attempt to stimulate the economy, and how best to do it, has been the subject of an enormous amount of discussion--and blather--ever since the crisis began. Now (via Menzie Chinn) we at least have a survey of estimates of multipliers under various assumptions and according to a wide range of models. A contribution to more informed blather ...