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Economic "moralism" --- aka: "follow the money"
2011-10-03T16:19:27Z
Krugman writes in his "Defeatism" blog article (Sept 30, 2011) that much of the current problem in continued deep economic malaise is due to a kind of "moralism" which for unknown reasons requires punishment promulgated by the Very Serious People. 
While I don't ...
Private Enterprise "externalities" is telling
2011-10-03T16:27:13Z
Interesting that costs incurred on society by the effects of business, but which aren't applied to the cost of business are termed "externalities".  This is quite telling as it shows just how business centric society's or business's view of society has become, not to mention the fact that society in general willingly pay's for these ...
Year over Year Productivity Growth & Real Compensation
2011-10-07T18:21:44Z
I have stated previously that domestic productivity gains which exceed population growth over the long term cannot be sustained since it must necessarily and increasingly displace labor in production of goods and services, or increasingly reduce labor's compensation... either & both of which decrease consumption ...
Economists on the long term
2011-10-07T18:27:17Z
Don't you wonder why economists in general and over time don't look at the long term effects of capitalist economic fundamentals in quantitative terms --- or show results of various models (with varied input).   In my economic journey's through blogs and academic articles I keep looking for analysis of long term effects on U.S.'s ...
Effects of Chinese Imports on US Wages, Household Income, Employment, & Transfer Payments.
2011-10-07T18:40:52Z
This academic paper (August, 2011) describes the subject effects of Chinese and other low labor country imports on US mfg'ing over the last 2 decades... and each decade independently.  A good read (if you omit reading the math details). 
 
Bottom line is as expected ---- loss of jobs and wages in both mfg'ing and non-...
Reich, as always, doesn't pull any punches
2011-10-09T15:12:59Z
Good read.  Reich says about making changes...as I do: "follow the money" 
The more I think about it, the anti-Union moves since Reagan ...
2011-10-09T15:16:04Z
... has killed the party that used to represent the middle class ...i.e. the non-capitalists.
 
It must indeed be considered one of the greatest master moves by the capitalist owners association in the beginning via Reagan as their spokesman, puppet, and implementer: "Government is the problem, not the solution" .
 ...
Offshoring, Re-shoring, & Productivity
2011-10-09T15:19:19Z
A recent Financial Times article (linked from a Krugman blog) cites a commercial study that predicts 3 million more jobs in US will be created by end of the decade (2020) due to re-shoring --- bringing production back from China, et. al.  As example the article ...
Garbage in; garbage out
2011-10-11T18:48:00Z

From The Subprime Crisis  by Robin Blackburn: 

Matthew Rothman, a Chicago PhD and head of quantitative equity strategies at Lehman Brothers Holdings, declared after a few bad days in August 2007: ?Wednesday is the type of day people will remember in Quant Land for a very long time. Events that models only ...

Banking is not a viable economic institution
2011-10-11T19:17:50Z

My small analysis (below) of banking as a viable institution finds that it really isn't a viable financial institution at all.... contrary to popular opinion.  In a capitalist competitive banking environment,  banking, as an institution, is at best only temporarily viable over the short term.  In its fundamentals it ...

Short Speak
2011-10-14T14:56:36Z

American "short speak" colloquialisms ... among them:

 

From proper English:

"That is not [possible; likely; true; etc] !

or to add emphasis:

"That is certainly not [possible; likely; true; etc.] !

Response:

"Yes it is."

 

Evolved [for reason's I don't ...

China & "exchange rate manipulation"
2011-10-18T23:45:45Z
The U.S.'s allegations that China's Yuan is undervalued is a WTO, IMF / GATT (GeneralAgreements on Tariffs & Trade) legal question / issue, not subject to U.S. law or congressional actions or interpretation.
 
The following synopsis of the legal issue is from an article published by the ...
Reasonable People always agree ...
2011-10-18T23:50:28Z
... if and only if they agree on the objectives.
 
When otherwise reasonable people have different objectives, then they will always eventually find reasons to disagree.
 
So if all politicians and parties were reasonable and objective, & agreed that the objective is an economically strong ...
Cain's 9-9-9 plan tax rates by quintiles - but the top 1% ...
2011-10-19T03:04:39Z

... will get a reduction of 13.5% in tax rates, while the lower 80% of tax payers would all pay more in federal taxes.  Moreover, the lowest 40%  would pay an average of ~16% more.   Talk about regressive!

Source: Tax Policy Center...

Fed (Central Bank) & Democracy at odds with one another - Baker's article
2011-10-20T15:16:51Z
Baker's article favor's removing the regional bank presidents on the fed (5 of 12 voting members of the FOMC ae regional bank presidents) from have a ...
Why "Money talks; everybody else walks"
2011-10-20T15:20:57Z
Money talks and everybody else takes the hind-most simply because money (capital) is one of the means by which goods and services are created --- labor is the other necessary ingredient.  It is also the means by which goods & services are obtained --- i.e. by purchases thereof.
 
Therefore capital (money) has the concentrated ...
Krugman being blunt
2011-10-23T15:20:57Z

Read the last sentence.

http://krugman.blogs.nytimes.com/2011/10/22/an-insurance-company-with-an-army-2/

A 1930's prediction of the effects of productivity improvement
2011-10-31T16:09:04Z
80 years ago a guy who rethought traditional economics and turned it on its head (a revolutionary economist then, and still so regarded by some) was able to extrapolate productivity improvement into the the future to discover that productivity improvement would create a serious economic issue, yet unheard of at the time:...
Addendum - A 1930's prediction of the effects of productivity improvement
2011-10-31T16:10:31Z
I'd previously said Keynes statement was the first instance of the economic issue of technological unemployment in economic cirles.  This is incorrect.  The arguments that technological changes would or wouldn't cause unemployment in the long term were first made in the early 1800's by Say, Ricardo and others.&...
So Greece ends up in default anyway...
2011-10-31T16:11:42Z
.... by banks taking a loss of 50% on their bonds, but the banks are recapitalized by the other Euro sovereigns (i.e. taxpayers), which in net effect is pretty much the same as what taxpayer's did here isn't it?  
 
...
Early Industrial Revoluton Onset Causes
2011-10-31T16:14:02Z
The early Industrial Revolution research I'm doing is to understand the effects of rapid and increasingly greater rates of technological change on labor distruption ... specifically whether the displacment of labor due to technologically induced changes can be reabsorbed if the rates of change continue unabated at an ...