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The Real Analysis Starts

One of the great victims of our current economic malaise is the economics profession itself. The infighting and bickering between our foremost economists over what to do about the crisis is a shameful reminder to all of us that economic theory is a fledgling not a fully grown phenomenon. For those of you who want […]

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Awful Job Prospects Get Worse

There is nothing much to add to this bad news: Bellwether Caterpillar among those shedding workers The key thing to remember is that unemployment tends to lag, rather than lead, the economic cycle. That is because the economy has already gone over the cliff before employers start to cut their workforces. So looking at these […]

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What To Do About Pensions?

The New York Times has an editorial about the state of our 401(k) plans: Editorial – From Here to Retirement – and the issues that are now arising as a whole cohort of workers approach retirement just as their primary saving vehicle has been destroyed. The issues are worth delving into at length, but here […]

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