The Radford Free Press – Page 328 – All life is problem solving.

Economics / consumption, deficits, exports, GDP, imports, inventories, non-residential investment, recession, recovery, residential investment, stimulus, unemployment /

GDP: Good or Fair?

January 28, 2011

The initial reaction to today’s GDP report has to be positive. The economy grew at an annual rate of 3.2% in the fourth quarter of 2010, up from a revised 2.6% during the third quarter. So the recovery seems secure and well on track. Here is my usual breakdown of the parts of the economy […]

Economics /

Speculations On Uncertainty: A Respectful Response to Hannes

January 27, 2011

Whoops. When I gave my off the cuff response to Paul Davidson little did I realize that would bring upon myself the scorn of neoclassical folks. I didn’t think they bothered with us little people. Apparently my assertion that uncertainty is cause for the existence of firms and money is lacking in stringent support. I […]

Economics / unemployment /

Blame It On The Weather

January 27, 2011

Oh my. So sophisticated is our society that we now have discovered the real reason economic data bumps about a bit. The weather. The UK economy shrank in recent months, not because of asinine austerity programs aimed at cutting the government deficit, but, we are told, because the poor dears suffered a bout of miserable […]