The Radford Free Press – Page 320 – All life is problem solving.

Economics / consumption, inflation, personal incomes, real estate, stimulus, wages /

Slow Start to 2011?

February 28, 2011

Today’s news is a less upbeat than I had expected. Not that I had great expectations to begin with. Personal incomes rose 1.0% in January and personal consumption rose with it, but by a much smaller 0.2%. The problem is that the income figure is derived mostly from the payroll tax cut Obama managed to […]

Economics / Adam Smith, Economics, neo-classical economics, Paul Samuelson, Walras /

Economic Errors

February 25, 2011

That the discipline called economics is in a bit of a mess is beyond dispute. That is has taken this long for many of its leading lights to come down from their respective mountain tops and admit so is, frankly, a scandal, but not surprising given the enormous prestige and ego reinforcing power attaching to […]

Economics / consumption, fiscal policy, GDP, Investment, jobs /

GDP Revised Down

February 25, 2011

Watch this space. One of the reasons we all should ignore the puffery in the markets about the nature of the recovery is that the economy is still subject to significant risks. We all know and talk about the high level of unemployment, almost accepting it now as part of our near term fate. What […]

«< 318 319 320 321 322 >»