The General Theory of Employment, Interest and Money by John Maynard Keynes was labeled one of the ten most harmful books over the past two centuries by this group of folks who likely never read the book. Yet, its core thesis that an economy can fall below full employment has certainly received a lot of […]
A week before the Bush v. Gore election, Stephen Moore and Art Laffer wrote a Wall Street Journal op-ed that endorsed George W. Bush. I didn’t mind the endorsement as much as the mendacity of this op-ed as it tried to convince the reader that the 1981 tax cut increased economic growth. The truth is […]
The Euro has weakened substantially against the dollar over the last few months. Probably the two main reasons are the weak economies of many European Union countries and the recent failure of the EU Constitution. Still, the Euro is significantly stronger than a few years ago. Click on graphs for larger images. Although there are […]
Has Ron Scherer of the Christian Science Monitor been reading Angrybear? An increasing part of production costs in America comes from the price of promises … Now, even with the economy far from a recession, the cost of these promises is becoming a drag. On Tuesday, the size of the drag became more apparent for […]
The Heritage Foundation lists Tim Kane as its expert on labor economics. Fox News shows once again that “fair and balanced” reporting means Bush cheerleading: Leave aside the fact that jobs are only one of the measures of economic performance. The rapid growth rate in GDP, stable inflation, a housing boom, and world-beating productivity growth […]
The latest addition to the “Topics” archive in the left panel is a collection of our posts on the housing market and the possibility (likelihood?) that we’re currently in a bubble, or perhaps a set of regional bubbles. Most, though not all, of the posts are by our valued Monday contributor from Calculated Risk. AB
MMerrill Lynch and Cap Gemini released their 2005 World Wealth Report (pdf here) this week. Hopefully I’ll have more to say when I’ve read the full report; in the meantime, here are some highlights from the press release: “The number of high-net-worth individuals (HNWIs) — individuals with a net worth of at least U.S. $1 […]
Now I finally understood what Al Gore meant by “risky scheme” — Ted Barlow of Crooked Timber on the Ohio Coin Scandal: When I learned that Ohio Republicans had (cough) “invested” $50 million of public funds in rare coins and collectables controlled by a highly connected Republican fundraiser, I thought, this doesn’t look good. When […]
The disinformation on the alleged free lunch from privatization continues. Donald Luskin is asking folks to read this piece by Amy Menefee. She tries to claim some sort of leftie bias in the media. She also stumbles when she talks economics: In reality, the president’s plan for personal accounts would operate much like the Thrift […]
The GOP was pushing for drilling in ANWAR even when the world market price for crude oil was less than the estimated extraction cost for getting crude oil out of ANWAR. Currently, the market price for crude is about twice this extraction cost and some analysts expect world prices to remain high. One Saudi official […]