…defined as a cut in benefits in 2041. If we define Gen-X as the eighteen year cohort of people born 1965 to 1983 (and it doesn’t matter what we call…

…concerted effort to define Pi as 3: In 1897 the Indiana House of Representatives unanimously passed a measure redefining the area of a circle and the value of pi….The bill…

…recently been assumed to be a useful approximation to reality by, for example, Larry Summers. To define terms, I assert that a logically consistent theory can be proved false only…

…depending on how you define it and what time period you chose the Trustees tell us the unfunded obligation runs somewhere between $4.3 trillion and $17.4 trillion (source of the…

…requirements are rational expectations, well defined property rights, price taking behavior (which is really stronger than saying no agent has market power), no nonpecuniary externalities which implies, among other things,…

…right and left define ‘freedom’. I want to assert that the modern right draws their definition from Milton Friedman while the left fundamentally looks to FDR. Contrasting quotes and some…

…I’d note that there have been many attempts to define and measure money and all show variable velocity which increases when nominal interest rates are high. Sitting on money is…

…had directed. Much of the work by Obama’s team has focused on establishing principles that would clearly define the program’s course and the conditions of government aid to financial firms….

…should be possible to guess that I don’t think that “market liquidity” is a good thing. I use quotes as I would define assets as liquid or illiquid and markets…

…a physicist, once said about Bill Richardson when Richardson was Secretary of Energy. My father doubted that Richardson could come up with a reasonable definition of the word “energy.” Looking…