When the Interest Rate on the National Debt Is a Policy Variable (and “Printing Money” Does Not Apply)

Modern Monetary Theory (MMT) argues that the interest rate on the national debt for a monetary sovereign is a policy variable, not subject to whether bond markets “accept” or “reject” it. This paper defines measures of the components of the standard analysis of fiscal sustainability. It then methodically describes the Federal Reserve's operations relevant for understanding why interest rates on government debt in the United States have been and continue to be driven by monetary policy. A corollary that emerges—“printing money,” as economists usually understand it—is not applicable and has never been advocated by MMT.     

Compassionate Democrats and Tough Republicans: How Ideology Shapes Partisan Stereotypes

Political Behavior - Trait stereotypes are a fundamental form of social cognition that influence public opinion. A long line of literature has established partisan stereotypes of politicians, but...     

Confronting A Dark History

正In late May, Canadians learned the remains of 215 indigenous children had been found in unmarked graves on the site of a former residential school in British Columbia.About a month later, hundreds of other unmarked graves were found located on another former residential school in Saskatchewan and a further 182 unmarked graves were discovered at a third site in British Columbia.     

What Gets Measured,Gets Done: Understanding and Addressing Middle‐Class Challenges

Middle‐class families face a range of challenges, including uneven income growth, imposing child care costs, and affordability gaps for higher education. The ideal policies by which policy makers and public administrators can aid the middle class are far from obvious. Policy solutions are likely to mirror our government and population, meaning that they will be decentralized and varied. Achieving a “growing and thriving middle class” requires understanding the composition of the middle class across the country. Benchmarking and measuring the middle‐class condition at the state and substate levels is critical to crafting and adopting effective policy solutions. This Viewpoint essay highlights the Colorado context to demonstrate the measurement of the middle class and tracking of its lived experiences.     

The New Ecology of Tornado Warning Information: A Natural Experiment Assessing Threat Intensity and Citizen‐to‐Citizen Information Sharing

The complexity of the modern information ecosystem raises many questions for public organizations. In the context of emergency management, information (such as warning messages) is communicated not only from a source of authority to the public but also between members of the public. The authors use a series of storms that affected Oklahoma in the spring of 2016 to test propositions related to how information about tornado warnings reached the public and who received and shared information about the storm, as well as to identify how gender and age mediate the influence that exposure to an extreme weather event has on the sharing of this information. Overall, the authors find that reported exposure to a tornado increases information sharing through a variety of media and technology. The effect of the tornado erases the otherwise present gender gap in sharing information, while it has little effect on the media platforms that are most popular among older respondents.     

Are We Civilized Yet?

The term “civilization” has been used in many contexts where accusations of Western imperialism, racism, and the like do not at all apply. Works on the history of science and technology in ancient cultures provide one such example, when they speak of Egyptian civilization or early Chinese civilization. It is also not true that works of the Enlightenment view the non-western world as less civilized and inferior. An entire genre of writing inspired by Jesuit accounts discovered in China a higher form of society that Europe should emulate. Two such works were Oliver Goldsmith’s Letters from a Citizen of the World and François Quesnay’s Le Despostisme de la chine, which offer, respectively, an extended satire and a sharp critique of European society.