The Radford Free Press – Page 162 – All life is problem solving.

Economics / consumption, demand, economic policy, Federal deficit, GDP, government spending, growth, inventories, Social Security /

US Economy Grows 2.8%

November 7, 2013

Don’t get too carried away by today’s report on the economy. Growth of 2.8% in the third quarter is nothing to be happy about because it falls right in that range of ho-hum figures that neither excite nor disappoint. It isn’t sufficient to break the back of unemployment, but it is enough for do-nothing politicians […]

Economics /

Unequal Austerity and Its Economics

November 6, 2013

Inequality is much discussed nowadays. Pundits of all political stripes are weighing in on its causes and on its effects. As usual there is no agreement. So, also as usual, I suspect there will be no action. This is not a new problem, nor is it trivial. The steadily increasing privilege afforded capital – higher […]

Economics / economic theory /

Quote of the Day: 1

November 4, 2013

From Enrico Coen: “If we could somehow eliminate all discrepancies then all learning would come to a halt. … A perfect knowledge of the future would act like a mental anesthetic.” I wish economics would pay attention – or more attention – to people like Coen who explore real human capacities, and real human decision making. […]