The Radford Free Press – Page 455 – All life is problem solving.

Economics / agent based modeling, complexity theory, entropy, evolution, Keynes, Keynesian economics, Mandelbrot, Milton Friedman, Minsky, New Classical Economics, Paul Krugman, Paul Samuelson, Prigogine, Robert Lucas, University of Chicago /

The State of Economics. Hint: Bad.

September 3, 2009

This next weekend Paul Krugman has an article in the New York Times that I think it is well worth your time reading. It is called: “How Did Economists Get it So Wrong?”. I have inveighed here, in my own inadequate way, many times about how I see the failure of economics as a body […]

Economics / jobs, recession, recovery, unemployment /

Jobs: This Week, Part Two

September 3, 2009

For three days in a row this week we get employment data. Yesterday it was the ADP Employment Report, today it is the weekly unemployment claims data, then tomorrow we end with the government’s monthly payroll information. So we are inundated with insights into the state of the labor market. Generally the best we can […]

Economics / ADP Employment Report, consumption, jobs, recession, recovery, unemployment /

Jobs: “Less Worse” Is Still in Force

September 2, 2009

Today’s news from ADP, the payroll company, that the private sector shed another 298,000 jobs last month is more of the same. We have heard this kind of news for several months now: things are getting worse less badly. That’s an improvement of sorts and unavoidable. But it is frustrating. The ADP numbers throughout the […]