Everywhere I look I am being told that the RBNZ must slash rates into heavily stimulatory territory. There are calls for tax cuts, infrastructure spending, further unemployment relief. There are calls that commodity prices will collapse – but the price we pay for things won’t. Pretty much anything that could be wrong, we’re are being […]
Over at Paul Krugman’s blog he discusses the idea that monetary authorities could have prevented the Great Depression and how that relates to now (ht Economist’s View). Specifically he states that recent events imply that “the thesis of the Monetary History (Friedman’s book) has just taken a hit”. I am not sure I agree with […]
It appears someone has created a site that copies our entire posts. I have tried emailing the guy – but I didn’t get any response. What do you guys think we should do? Update: So we have agreed it is a spam blog, and we should put a copyright on our site and posts. Interestingly, […]
According to a recent book by Christian Broda and David E. Weinstein (Prices, Poverty, and Inequality: Why Americans are Better Off Than You Think) (ht Marginal Revolution) growth in income inequality was less pronounced in the US because of changes to the quality and cost of goods that “poor” people purchased. This indicates to me […]
In what could become an awesome resource for creating economics post, we have found Debatepedia. We discovered the site after we found it linking to a post we did on progressive taxes in support of the argument that “progressive taxes adjust for random factors in wealth“. The full progressive tax debate is here. It is […]
Michael Lewis: He thought the cause of the financial crisis was “simple. Greed on both sides—greed of investors and the greed of the bankers.” I thought it was more complicated. Greed on Wall Street was a given—almost an obligation. The problem was the system of incentives that channeled the greed. Found in the December 2008 […]