…story, the two sectors are capital goods production and everything else (agriculture, consumption goods production and services). The key assumption that he needs is that workers would really rather work…

Rebecca The BLS establishment survey (nonfarm payroll) reports that the accumulated job loss since December 2007 is 5.02% (almost 7 million jobs), blowing the total job loss of the previous…

…Quantity Theory of money “veil of money.” The Quantity Theory “veil of money” has the trading exchanges in commodity markets be of goods for money and money for goods: therefore,…

…the nonrivalrousand nonexcludable nature of public goods, in the current study spending on public goods…..As can be seen from the table, the exclusion of public goods does not change the…

…US imports include lots of capital and industrial goods, in addition to consumer goods. As the US already has the infrastructure in place for this, a lot of these goods…

by Linda Beale Redistribution and public production of public goods–not “let the markets handle it” In recent posts, the Importance of Distribution and Markets, Minimum Wages, and the Sins of…

…the lost jobs simply do not exist any more. Second, the U.S. exports goods and services as well as purchases them. Among the manufactured goods that account for significant shares…

…totting up cows and horses and bags of grain, invented the arbitrary unit of account — a unit that allows those heterogenous goods to be tallied on a single sheet,…

…report showed that the composite price index for all goods less food and energy goods was 0.1% higher in February, we can thus approximate that real retail sales excluding food…

…0.4% in April and being unchanged in March of last year, the composite price index of all goods less food and energy goods was 0.1% higher in March, while the more…