Here is a good attempt..Economist’s View: Shiller: A Crisis of Understanding The causes given were “distributed widely among government, labor, industry, international politics and policies.” They included misguided government interference with markets, high income and capital gains taxes, mistaken monetary policy, pressures towards high wages, monopoly, overstocked inventories, uncertainty caused by the reorganization plan for …
Asia Times Online :: Asian news and current affairs. This economy is likely to protect the already well off and hurt everyone else. The rich, having gained the wealth, now want t make sure that the costs are borne by the rest. Current and future funds transfers, such as FDIC guarantees, and future interest on the debt (paid from the treasury …
Worth remembering Mr. Buffett compiled a data sheet of the men and women who work in his office. He had each of them make a fraction; the numerator was how much they paid in federal income tax and in payroll taxes for Social Security and Medicare, and the denominator was their taxable income. The people …
http://www.tnr.com/article/politics/shooting-banks Shooting Banks Obama’s impotent assault on Wall Street. Peter Boone, Simon Johnson February 24, 2010 | 12:00 am On January 21, in an abrupt change of policy, President Obama announced his intention to take on the big bankers who have brought us so much trouble. “If these folks want a fight, it’s a fight …
The Costs of Economic Growth, by Charles I. Jones, Stanford GSB and NBER, August 18, 2009: 1. Introduction In October 1962, the Cuban missile crisis brought the world to the brink of a nuclear holocaust. President John F. Kennedy put the chance of nuclear war at “somewhere between one out of three and even.” The …
Here is the problem. Economics is the social science that studies the production, distribution, and consumption of goods and services. The term economics comes from the Ancient Greek οἰκονομία oikonomia, “management of a household, administration” from οἶκος oikos, “house” + νόμος nomos, “custom” or “law”, hence “rules of the household”.[1] Current economic models developed out …
“Minsky” was shorthand for Hyman Minsky, a hitherto obscure macroeconomist who died over a decade ago. Many economists had never heard of him when the crisis struck, and he remains a shadowy figure in the profession. But lately he has begun emerging as perhaps the most prescient big-picture thinker about what, exactly, we are going …