by David Zetland Local versus regional control In response to this: “The public sector is often better at handling inter-agency cooperation and the private sector is often better at delivering cost-effective, measured results. In either case, the local government plays the most important role as it needs to oversee and regulate all players. Poor regulation […]
by Maggie Mahar George W. Bush’s Recent Stent Surgery—Two Perspectives (re posted with author’s permission) Last week, when former President George W. Bush underwent stent surgery, the procedure was declared a great success. What is surprising is that not everyone in the mainstream media applauded. From Bloomberg News “Former President George W. Bush’s decision to allow […]
John Quiggin writes something absolutely conventional and accepted by 99% of macroeconomists and I throw a cow. Sometimes I bore myself but I must object to “The big problems arose out of the Phillips curve, as I’ve discussed before. First it was oversold as a stable trade-off by Keynesians [citation needed].” Which Keynesians when ? […]
From The Guardian comes this bit of news: “The partner of the Guardian journalist who has written a series of stories revealing mass surveillance programmes by the US National Security Agency was held for almost nine hours on Sunday by UK authorities as he passed through London‘s Heathrow airport on his way home to Rio de Janeiro. […]
Lifted from Stochastic Thoughts comes a whimsical post by Robert: Is there a Craig who own’s Craig’s list ? This is an honest question. If so, why isn’t he very rich ? Classified ads were a huge cash cow for Newspapers. The internet is killing them not because of say blogs, but because it is […]
U.S. Population Distribution by Age, 1900 through 2060 (Bill McBride,Calculated Risk) Animated wonder.
After posting an article about how imports create saving for investment, a conversation was started. The conversation led to doing more research and developing new explanations to understand the basic circular flow model. This is actually a very important issue to get right. The circular flow is such a basic part of understanding the economy. […]
Says John Aziz, “Economics, broadly defined, is the study of human action and interaction.” Which reminds me to post this, which has been long brewing in my head. More carefully and precisely defined, I posit the title of this post: Economics is (should be) the study of how individuals and groups react to changing circumstances (which circumstances include […]
David Zetland at Aguanomics ponders the interplay of institutions and markets (reposted with authors permission). LocaL conditions in this context are those conditions in a watershed area. This is what I mean by institutions I wrote this for some partners on our water project, and I post it here because it seems to give a […]