Contemporary economics is often criticized for being too mathematical. How can we really capture the complex dynamics of what's happening in people's economic lives with a bunch of formulas?

If the Fed raises interest rates for the first time since the Great Recession, they will effectively be declaring "mission accomplished" on jobs and wages. But there is a major issue: The data simply does not support a rate hike.

But these progressives say it's wrong.

Try to think of a policy idea that has the following characteristics: it costs almost nothing to implement; it has the potential to help millions of highly disadvantaged people raise their living standards; it is supported by both President Obama and the Koch brothers. You're envisioning the null set, right?