The Radford Free Press – Page 292 – All life is problem solving.

Village Economics

June 16, 2011

I doubt that Joel Mokyr had this in mind, but one of my reactions to his excellent economic history of Britain – The Enlightened Economy – is that the development of economic theory has sorely lagged the development of actual economies. I doubt that many of you find this surprising, but to read history and […]

Economics / bailouts, default, Euro, Greece /

Greece: A New Low

June 15, 2011

Count me among those who expect Greece to default on its debt. I see no viable alternative. The Greek experience is unique. Other troubled Euro zone nations are less culpable for their demise. At least from a distance it is well known that Greece has a major problem with aspects of modern society: for one […]

Economics / consumer confidence, fiscal policy, GDP, home prices, jobs, monetary policy, real incomes, recession, recovery, savings, stimulus, unemployment /

Historic Fog

June 15, 2011

Ugh. The numbers are just horrible. We have wandered off into the desert and will not return for years. Here’s why: Household debt is still way too high. It is well down from its peak of about 130% of disposable incomes, and is now “only” 115%. But that compares with an average of around 75% […]

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