It appears that the UK wants to spend their way out of a recession. The US has a plan too, as does New Zealand, Europe, and Australia. Governments all across the world want to spend their way out of a recession – however, there is only three ways they can get the money together. Increase […]
Over at the Standard they discuss one of Lord Keynes’s “real ideas” – namely an international organisation that tries to push savers to spend, by buying the things borrowers save. When I put it this way the idea sounds ridiculous – which it is. This unusual view comes from a belief that a trade deficit […]
Although I don’t agree with all Thomas Sowell has to say, this quote is brilliant: The first lesson of economics is scarcity: there is never enough of anything to fully satisfy all those who want it. The first lesson of politics is to disregard the first lesson of economics I think this quote is apt […]
Joan Robinson (*): The purpose of studying economics is not to acquire a set of ready-made answers to economic questions, but to learn how to avoid being deceived by economists. Training to be an economist does not tell you the answer to any economic question – it gives you the tools with which to determine […]
I just re-ran the “typealyzer” and our blog type changed considerably (from here): ISTJ – The Duty Fulfillers The responsible and hardworking type. They are especially attuned to the details of life and are careful about getting the facts right. Conservative by nature they are often reluctant to take any risks whatsoever. The Duty Fulfillers […]
The world price of oil has now declined to under $50US a barrel, a third of it’s peak value (live prices here). This takes me back to a post we did at the end of May – when fuel costs were pushing up at a rate of knots. The topic was covered in the name: […]