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

Economics / Economics, Keynesian economics, neo-classical economics, Ronald Coase, theory of the firm /

Coase, Uncertainty, and The Firm

December 17, 2010

The Economist notes Ronald Coase’s one hundredth birthday. I should not allow this to go uncommented upon. To me Coase asked one of the most simple yet subversive questions of all time in economics: why do firms exist? To regular people outside the wonderland of orthodox economic theory, this question usually induces something between an […]

Economics / personal incomes, wages /

Incomes Falter …

December 17, 2010

Financiers and farmers. Agriculture and banking. Somewhere we have heard this story. I don’t usually pass along the personal income data from the Bureau of Economic Analysis, but today I will because it has some revealing detail. Overall state level personal income growth slowed to 0.7% in the third quarter, down from 1.4% in the […]

Economics / Federal Reserve Board, inflation, monetary policy, Paul Krugman, Thomas Hoenig /

Inflation: Hoenig’s Folly

December 15, 2010

Drip, drip, drip. Another month goes by and still no sign of the upheaval wrought by all that reckless Federal Reserve Board money printing. Today’s news that core inflation checked in at 0.1% last month is no surprise to those like us who aren’t trying to conjure up false fears. But to those such as […]