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Morning Reading

Good morning. Let's get started with these items:

Can the federal government really create jobs? (Time) A good analysis of the options for job creation.

Did deregulation cause the Great Recession? (Real Clear Markets) Some good points, although I believe when most people talk about deregulation, they're referring to things like the repeal of Glass-Steagall during the Clinton years.

In a December 3 article in Politico ("J-O-Bs should come before GDP"), Rep. Phil Hare argues that "reckless deregulation" is one of the causes of the current economic crisis. That isn't actually true. This year's edition of the Competitive Enterprise Institute's Ten Thousand Commandments report found that 3,830 new regulations came into effect in 2008 alone.

Over 30,000 total new rules passed during the Bush years. Hardly any were repealed. Businesses currently dole out the equivalent of Canada's entire 2006 GDP - about $1.2 trillion - just to comply with federal regulations.

Where is the deregulation?

A chat with Elizabeth Warren (Newsweek) For all you EW fans out there:

Many Americans want to know if the people in Washington are on their side or on the side of the powerful banks. There should never be a doubt about the point of any government action: it should always be to help families directly, or help markets in ways that help families. If that isn't clear, I think the action is wrong, or the description of the action is wrong.

Shock: The American Bankers Association opposes banking reform measures (Huffington Post)

The next bubble? Books about the financial crisis (Paul Kedrosky)

Patchwork Nation: Exploring Philadelphia (PBS):

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