This concept of Comparative Advantage hits a big wall if we accept the World Bank’s study on what generates wealth. If comparative advantage is about what comes natural to a given nation, it has to include what the study referred to as natural capital. This is only 40% of the wealth generation for a poor […]
Seems there is a movement afoot to do the economy one better. There will be a conference Beyond GDP held in Brussels in November. GDP is the best-recognised measure of economic performance in the world, often used as a generic indicator of progress. However, the relationship between economic growth as measured by GDP and other […]
Continuing from my last posting, I stated the World Bank has seen the light. It has put out a report: Where is the Wealth of Nations? Reason Online has an interview with the prime author Kirk Hamilton. Oil, soil, copper, and forests are forms of wealth. So are factories, houses, and roads. But according to […]
On September 28th Bill Moyers’ guest was John Bogle. You can see the interview or read the transcript from here. The setup for the interview is about private equity firms and he mentions the Sunday NY Times front page article: At Many Homes, More Profit and Less Nursing. His introduction of Mr. Bogle is: It’s […]
Just a little break from the usual. Did you know you can pay your taxes easier in Iraq than in the US? I stumbled across this today. It is the World Bank page on Doing Business. It ranks 178 countries on 10 topics. You can resort the order depending on 3 different settings. When you […]
I have intentionally let others post about the politics of this war wanting to keep the focus on economics as that is what attracts me to this blog. BUT…for all the postings here that have resulted in supportive comments for the war, please explain this. Dick Cheney at the Economic Club of Detroit in 1992 […]
Just an FYI related to recent postings here. Democracy Now for 9/24 has about a 38 minute discussion with both Naomie Klien and Alan Greenspan. The remaining minutes is with Jeremy Scahill. This particular exchange caught my attention: AMY GOODMAN: Alan Greenspan, you write in the end of your book, “A Federal Reserve System that […]
We have been discussing a lot of economics through the political viewer lately. And I certainly have laid my point of view out there, but I also like the theory discussion. I like to think and know how stuff works or how someone interprets what they see. I believe discussing theories leads to better political […]
We have a lot of discussion about the moral hazard of Iraq, related to life (the trump card), but I think we need more discussion concerning the policies related to the flow of money because after all, this is an econo blog. Thus, these two articles. The first one: The Great Iraq Swindle (RollingStone) and […]
Just want to let everyone here know of this web site I heard about. It is My Election Choices.com. Their opening statement: Isn’t your vote for President worth more time than a game of Sudoku? This site helps you learn which candidates most agree with you. The creators of the site have taken statements made […]