The Radford Free Press – Page 456 – All life is problem solving.

Economics / consumption, inventories, ISM Business Conditions Index, jobs, recession, recovery, unemployment /

Recession’s End? Absolutely.

September 1, 2009

The Institute for Supply Management can hardly be described as a ‘happening’ or ‘fun’ crowd. The entire concept of supply chain management is enough to make most of us yawn with indifference. So it’s very hard to get a crowd wound up over the ISM Monthly Report on Business. But perhaps today is a little […]

Economics / Adam Smith, David Ricardo, gluts, Keynes /

Our Current ‘Glut’

August 31, 2009

While I am on the subject of Classical economics [see my post of the ‘Two Economies’], I think it’s useful to dredge up the way in which those folks would have looked at our current situation. Prior to modern economics there was no concept of a ‘recession’ and a ‘recovery’. Instead observers back in the […]

Economics / Adam Smith, David Ricardo, GDP, jobs, Karl Marx, recession, recovery /

The Two Economies Discussion

August 31, 2009

Reality has a very nasty way of intruding into the fancies of life. Economics is no exception. There is a growing realization amongst the ‘experts’ that the hoopla being accorded our imminent exit from recession is actually no big deal to a huge swathe of America. It won’t matter. As a result we are being […]

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