cedarstreetboutique: handmade quilts

double wedding ring handmade patchwork quilt

who doesn't love the feel of a handmade quilt? it's the perfect summerweight cover. plus they carry so much of the character of the person who made them -- a quilt is something you save and pass on, something crafted to last, the antithesis of disposable fashion.

while this is a very traditional quilt, the bright colors caught my eye... and then i fell in love with the shop description. the quilts are hand-sewn by mrs. freda in tennessee, who has been quilting for seven decades (!) and is about to celebrate her 85th birthday (!!), and she has an online store. the cuteness factor just about killed me.

just think! it's like having a spare grandma, or at least a crafty one -- mine would no more have quilted than thrown out a perfectly good manhattan. (bless her, my forebears never aspired to be goddesses at the domestic arts.) not sure if mrs. freda takes on custom requests, but you never know until you ask. i heart mrs. freda and her sweet quilts. more at cedarstreetboutique.etsy.com

The Wisdom of the OECD

The OECD has released its latest survey of the U.S. economy, and I am impressed. Let's look at a few highlights. First, on employment:

The trend growth rate of GDP has slowed, mainly because of tighter limits on how quickly employment can grow. In particular, the labour force participation rate, which used to be rising quickly, is now trending down. Against this background, this chapter considers three policies that bear on long term employment trends. Raising the age at which workers become eligible for full social security benefits would discourage premature retirement and make the social security system more financially secure. The disability insurance system is discouraging a rising share of the population from staying in the workforce and should be made less generous and more selective. Substantial increases in the federal minimum wage are planned; however, increases in the Earned Income Tax Credit would achieve the same objectives more effectively and with less risk of job losses.

Next, on tax reform:

On the revenue side, it may be difficult to sustain the recent reductions in marginal tax rates, while meeting the fiscal burden from entitlement programmes, although this would be clearly desirable. To the extent that revenues have to be raised, the tax base should be broadened, rather than reversing reductions in marginal tax rates. Since the comprehensive tax reform in 1986, which broadened tax bases and reduced marginal rates, most of the resulting gains in simplicity and efficiency have been lost through a renewed expansion in tax expenditures. To be sure, not all of them are undesirable. However, tax expenditures, which are distorting, ill targeted and ineffective, should be reduced or abolished. The President�s Advisory Panel for Federal Tax Reform has recommended, inter alia, that tax preferences for mortgage interest payments, employers� contributions to health insurance plan premiums, and state and local tax payments should be reduced. But, in addition to the Panel�s proposals, consideration should also be given to shifting the tax burden from direct taxes to consumption based indirect taxes � such as a national sales tax or a value added tax. This would produce efficiency gains, including reducing disincentives to saving. Furthermore, higher taxation of carbon based energy consumption would help reduce greenhouse gas emissions.

Has an international bureaucracy ever made so much sense in so few words? If so, I missed it.

The Golf Themed Bachelorette

Last night, I had a reader request from Jennifer to help her with a bachelorette party she�s planning. The theme is GOLF (Girls Only Ladies Forbidden) a la the movie The Wedding Date. Which I love. And tell me, who�s gonna be watching The Starter Wife tonight? I digress �

Anywho, I put together this fun storyboard of ideas to help Jennifer throw a great party.


First off, I made sure that the theme was not too golfy. Because as much as I like golf, I am not all about golf paper products. So, I chose sage green and brown for my colors and polka dots for my theme and went with it.

Love this invite from wedding paper divas. As you can see, you need to make sure to clearly state on the invite that preppy golf attire is required.

I would start the night of at the host's home. I love these cute polka dot paper products and I would do heavy appetizers with coordinating cupcakes for dessert. Instead of playing lots of games, start the night by explaining that the whole night will be one big progressive round of golf.

Then distribute to each guest a homemade golf score card (you can do this in word) that clearly delineates the holes or bars you will be visiting that night. At each bar, guests are scored on how many drinks they consume. Whoever gets the highest score gets a special trophy that they get to carry around to the next bar.

I would also create some fun cards for each hole. Jot down a task for the bachelorette to complete and distribute to guests to give to the bride at each hole. And if you�re looking for ideas for tasks, visit this site.

Since you�re not buying expensive prizes for games, for favors get all the girls something that will make your group look more like a �team.� I like this headband from etsy, but I can also see argyle socks, hair bows or barrettes or even coordinating polos.

Some other things to remember �

• Get a play list together of your favorite dance songs for the limo ride (that�s right no driving on a night like this)
  


• The host has exclusive power to revoke score cards from any guest who is winning excessively (this is for those competitive girls who could kill themselves by drinking too many shots)
  
• Create a visor veil for the bride using a plain white visor and netting from a fabric store. This signals the bride-to-be without going too over the top.

• To save money on the party, only offer one signature drink at your home. And make sure to include it as the first hole!

LONDON - blond readhead gig, koko + soho + mihiki, 05/30/07

Hubbard endorses a carbon taxe

Some Republicans believe it is best to avoid the word "tax," unless immediately followed by the word "cut." To them, my advocacy of higher Pigovian taxes is a sure sign that I am another one of those pantywaist Harvard liberals. Most Republican economists bend over backwards to avoid the same fate.

In today's Wall Street Journal, here is what my friend Glenn Hubbard says about policy toward global climate change:

The NCEP proposal meets this test of taking serious action while not imposing economic risks greater than the threat of climate change itself. It comprehensively addresses all U.S. emission of CO2 and other climate change-related gases. It does this using one system: tradable permits. In such a system, the use of coal, oil and natural gas will require permits in proportion to their CO2 emissions, typically sold along with the fuel -- so individuals need not deal with the permit market.

Those businesses and individuals who can reduce their fuel use and emissions most inexpensively will do so. Those who cannot will end up purchasing more permits and supporting those who can. In this way, the program flexibly encourages the least-expensive efforts to reduce emissions without constraining any individual or business. And revenue from the auction of a portion of these permits could be used to reduce the corporate income tax, blunting adverse economic consequences.

All true, but at what price? Permit markets can be uncertain and volatile, especially when they are first introduced, making it hard to gauge the economic impact of the program. Meanwhile, the alternative of an equivalent tax on carbon dioxide offers certainty about the price faced by businesses. In this sense, it is important that the NCEP proposal includes a "safety valve" mechanism -- an upper boundary on the price of tradable permits that limits the cost of the program to the businesses and individuals.

The title of Glenn's article is Capitalism Against Climate Change, but the proposal being discussed here is essentially a carbon tax. The government is getting revenue by auctioning permits, and it is setting the price of those permits via the so-called safety value mechanism.

Why use all these euphemisms? Why incur the expense of setting us a trading market in permits at all? Why not just call a tax a tax? Because, in some circles, "tax" is a four-letter word.

Two from the Fourth Estate

• Journalist Robert Samuelson on The Case for Gouging.
• Journalist John Stossel on The Double Thank You.

Both make a lot of sense.

LONDON - hanbury street + grill room, cafe royal + the end of the road residency, the social + white heat, madame jojo's, 05/29/07

Preschool Pays

So says Joel Waldfogel, channeling James Heckman and Dimitriy Masterov.

New Shoes

My college reunion is this weekend and I am diggin these gold ballet flats for the trip. I think they say comfortable with a touch of I used to wear heels to bars every night five years ago. Remember those days... college girls now have it way better. Not only were heels in style circa. 2002, so were black going out pants. I think I had six pairs. GROSS.

Oh and these flats are a total J Crew knockoff. And I'm ok with that!

Quick Math Review

A student at Oklahoma State writes the following on my facebook wall:

Your blog on which mathematics classes to take is very helpful and is guiding me through graduate school. There is a Schaum's outline book, introduction to math econ, by edward t. dowling that is a workbook with fully solved problems i have found, that is a complement to your blog, and EXTREMELY helpful! I showed it to our graduate director and he is now recommending it to all grad students!

I have never seen the book, but I thought some blog readers might appreciate the recommendation.

LONDON - durrr, the end, 05/28/07

soapylove

custom embossed soap bars

i confess i've been stalking soapylove's etsy shop trying to figure out which delight to feature, and then she listed these today and made it easy for me: voila!

sets of these gorgeous handmade soaps are available customized in your preferred color (blush and bash, anyone?) and fragrance -- good for sweet wedding or bridal party favors that can be actually *used and enjoyed*. kind of like the neon-colored foam beer coozies printed with "changes in latitude, changes in attitude" from my mom's wedding. but waaaay soapier. right! more at soapylove.etsy.com

Verbosity

One study found that a college professor's kids hear an average of 2,150 words per hour in the first years of life. Working-class children hear 1,250 and those in welfare families only 620.

From the Economist.

LONDON - boombox, hoxton square bar and kitchen + wet yourself!, public life, 05/27/07