The Radford Free Press – Page 335 – All life is problem solving.

Economics / ADP Employment Report, jobs, unemployment /

Jobs Galore?

January 5, 2011

True to the recent hyperbolic trajectory of the reaction to good news, today’s ADP report on private sector employment has been greeted as a “blockbuster”. We are being told that nirvana is imminent. Not so fast. The news is, indeed, very good. Private payrolls in the US economy added 297,000 new jobs last month. That’s […]

Economics / Economics, ethics, neo-classical economics /

Ethical Addendum

January 5, 2011

In his response to my earlier comment Antonio Garrido hits upon a vital point. Let me recapitulate the story so far. I wrote, at the very end of the comment: “… But I do know we are headed that way, and that textbook economics is culpable for spreading market myths far enough to help destroy […]

Economics / Bernanke, GDP, Minsky, Okun's Law, Paul Krugman, recession, recovery, stimulus, unemployment /

Sticky Unemployment – Okun’s Law

January 4, 2011

A regular correspondent of mine – Stephan – suggests that I add an addendum to my comment yesterday about the current hyperbole in the media. To refresh your memory, one of my points was that even rapid GDP growth in 2011 is not likely to reduce unemployment significantly, and that to restore the economy to […]

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