The Radford Free Press – Page 341 – All life is problem solving.

Economics / corporate profits, recession, recovery, unemployment, wages /

Jobs, Stickiness, and Class Warfare?

December 6, 2010

I didn’t bother commenting on last Friday’s dismal jobs report because there was an outpouring of despair from others to which I felt I could not add. To read that the American economy posted a 39,000 gain in jobs, this far after the recovery began, leaves me feeling despondent. What makes matters worse is all […]

Economics / Behavioral Economics, economic theory, Economics, Keynes, Keynesian economics, New Classical Economics /

Time Warp Economics

December 2, 2010

One of my ongoing complaints about economics is that it seems hidebound and horribly out of date. It seems stuck in the steam age with its references to land, labor and capital. Its models conjure up images of the titans of industry forging new railways across open plains and building vast steel works or cotton […]

Economics / deficits, Federal Reserve Board, fiscal policy, GDP, interest rates, monetary policy, stimulus /

Austerity Ex Machina?

December 2, 2010

Horace urged ancient poets not to rely on god like miracles to resolve the complications within their plots. Fast forward a couple of thousand years and we have all forgotten his advice. Apparently we have discovered the ultimate economic fix-it device we can pull from the machine and resolve any manner of crisis: austerity. Admit […]

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