…fact pretty outrageous. Why do companies offer generous severance packages? One theory is that the compensation committee is controlled by the CEO. Another is that it allows them to give…

…accounts don’t have a similar measure of money saving labeled Business Saving, which would be this: (7) Business Saving = Income – Expenditures – Distributed Profits = Undistributed Profits (This…

…start with, and all the rest.   So we ended up with across-the-board cuts that could not reasonably be expected to work out well for the economy–especially when Keynesian theory…

…They continue: This suggests either that there is something wrong with: the theory of money neutrality; the theory of the money multiplier; or how money is measured. Or, I would…

…for a series of lobbying “auctions” (this tax break for that campaign contribution) [hat tip Evelyn Brody ]. They are both therefore part of the avid group of Big Business…

…the “good stuff” you want to get, and keep away from other countries. But that was not at all the point of New Trade Theory, which ended up suggesting that…

…the rug. Mainstream theory tells us we don’t need to understand how banks work. To understand why that theory is wrong, you need understand how banks work. Cross-posted at Asymptosis….

…by quite simple equations. My view comes from Keynes and chapter 3 of his General Theory book. “An alternative, though equivalent, criterion is that at which we have now arrived,…

…at the onset of a recession. But let’s start exploring with Keynes and go from there. Here is Keynes in Chapter 22 of General Theory… “Thus the remedy for the…

…lawyers and state bureaucracies via tort reform and cross state border insurance sales. 6) Yes, in theory. But in practice access and affordability are not simultaneously achievable. We simply do…