Dean Baker

Articles by this author

Residents are seen wearing a mask as they walk through a street on December 8, 2020 in Wuhan, Hubei province,China. With no recorded cases of community transmissions since May, life for residents is gradually returning to normal. (Photo by Getty Images) Views
Thursday, December 31, 2020
New York Times Joins Trump's Anti-China Crusade
There is no doubt that bureaucratic bungling and authoritarian practices slowed China’s response to the coronavirus. A New York Times piece documents many of these failings. But, it is a big step to go from the evidence presented in the article to the assertion in the first paragraph: “Beijing...
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President Trump speaks at the Operation Warp Speed Vaccine Summit on December 8, 2020, in Washington, D.C. Views
Monday, December 28, 2020
Is the Distribution of Vaccines the Biggest Trump Screw-Up Yet?
The Washington Post tells us that 7.7 million first doses of vaccines have been shipped to date (two million shots have been given), with a target of 16 million by the end of the year. This is warp speed? By comparison, we manage to get over 170 million flu shots in people’s arms every year,...
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"Few progressive economists seem especially troubled by CEOs getting paid many millions above the market wage because of a corrupt corporate governance structure," writes Baker. (Photo: Alex Proimos/cc/flickr) Views
Tuesday, September 01, 2020
Are Corporate CEOs Worth $20 Million?
This simple and important question does not get anywhere near the attention it deserves. And, just to be clear, I don’t mean are they worth $20 million in any moral sense. I am asking a simple economics question; does the typical CEO of a major company add $20 million of value to the company that...
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Cutting drug prices presents a bigger challenge than cutting out drug advertising, but the rewards would be huge. (Photo: Chris Potter/flickr/cc) Views
Tuesday, July 28, 2020
The Insanity of Prescription Drug Prices in America
Prescription drugs have long provided two bad examples of American exceptionalism. They cost three-to-four times more than anywhere else, and we’re one of only two countries in the world that allows prescription drug advertising to consumers. Far better to be like everybody else. Americans deserve...
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In this picture taken on April 29, 2020, engineers work on an experimental vaccine for the Covid-19 coronavirus at the Quality Control Laboratory at the Sinovac Biotech facilities in Beijing. Views
Saturday, June 20, 2020
Patents and the Pandemic, Again
I know I have been pounding on this a lot, but it is important and there is a lot of money at stake. All we need (okay, maybe not all) is some clear thinking. The Washington Post had a good piece this week talking about how a company set up by a hedge fund, with no background or expertise in...
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The United States does have a huge domestic market, so it can see shutdowns in certain segments and still likely get by without severe shortages, but smaller countries absolutely need diverse sources. (Photo: Johannes Eisle/AFP/Getty Images) Views
Friday, April 17, 2020
It’s the End of the World Economy as We Know It, Just Like the Great Recession
Neil Irwin tells us there will be fundamental changes in the world economy as a result of the pandemic. While he repeats many things that are conventional wisdom, as is often the case, the conventional wisdom is not very wise. First, the pandemic is supposed to teach us the dangers of having...
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While some people are undoubtedly upset by the CPB getting $75 million, Boeing is getting more than ten times as much money from the rescue package. Views
Sunday, March 29, 2020
The Relative Generosity of the Economic Rescue Package: Boeing and Public Broadcasting
The media have been engaged big time in the numbers without context game, throwing out really big numbers faster than anyone can catch them. (For the biggest, the overall size of the stimulus, given the time frame, we are looking at a stimulus that is about five times as large as the Obama stimulus...
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President Donald Trump holds a press conference announcing Vice President Mike Pence will lead the effort combating the spread of the coronavirus in Washington, D.C. on February 26, 2020. (Photo: Yasin Ozturk/Anadolu Agency via Getty Images) Views
Thursday, March 19, 2020
Trump Stimulus Plan: Still Getting Everything Wrong
Donald Trump has consistently been failing the country in dealing with the coronavirus. Due to Trump’s failed public health response, even Treasury Secretary Steve Mnuchin acknowledges that we are facing the worst economic collapse since the Great Depression. This is in addition to the prospect of...
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Demand for airline travel has collapsed. (Photo: Getty Images) Views
Thursday, March 19, 2020
Any Corporate Bailouts Should Wipe Out Shareholders First
It looks like we are seeing an effort to do a replay of 2008 where we were told that we had to give all the money to the banks or the world would end. Today the story is that we have to bail out the airline, cruise, hotel, and restaurant industries or tens of millions of workers will lose their...
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Those who don’t have a lot of money in the stock market should view its ups and downs as you would any other spectator sport. It doesn’t have a lot to do with you. (Photo: Screenshot) Views
Tuesday, March 10, 2020
Coronavirus Is a Reason to Worry About the Economy—the Stock Market Plunge Is Not
Many people have become very concerned about the economy because of the stock market’s plunge in the last two weeks. While the spread of the coronavirus gives us very good reason to worry about the state of the economy, the plunge in the stock market does not. In fact, those folks who are very...
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