Just wanted to let everyone know about a presentation that aired on Cspan’s Book TV. It is a 2 hour panel discussion titles: Global Economy: Crisis Without End. It was held 2/17/12. Click hereto bring up the show. What I found most interesting was the different perspectives between Krugman and Sachs. I’m not […]
Actual markets in the American economy are extremely rare and unusual beasts. An economics of markets ought to be regarded as generally useful as a biology of cephalopods, amid the living world of bones and shells. But, somehow the idealized, metaphoric market is substituted as an analytic mask, laid across a vast variety of economic […]
Well, sort of on markets.There is an interesting conversation going on at Crooked Timber our public debate in the econosphere and political rhetoric . Henry posts on the use of arguments over the term neo-liberalism and finishes with: For what it’s worth, I think that the open information agenda, and the political inequality agenda have a […]
Yves comments on Wired’s Embarrassing Whitewash of Foxconn : But Johnson admits he’s a tech toy writer who apparently has no knowledge of manufacturing …. Yet he’s remarkably uninhibited in using his fantasies and abject ignorance as a basis for making sweeping generalizations about the Taiwanese powerhouse.…I find this little chart (hat tip Richard Smith) from […]
Today a host of global purchasing managers indices (PMIs) reiterated that the global economy is slowing….quickly. Within 24 hours, China, the US, and the euro area all reported July PMIs falling toward the feared 50 (below which the manufacturing industry is contracting) – 50.7, 50.9, and 50.4, respectively. The UK PMI fell below 50 to […]
Yves Smith at Naked Capitalism points us to exploring how the pursuit of “efficiency”, for example in supply chains, without assessing what other risks are involved and planning ahead can result in major problems: It isn’t all that hard to understand that stressing efficiency at all cost comes at the expense of safety. Engineers will […]
Dean Baker finds gaping holes in deficit hawk rhetoric using the simple accounting identity that national saving must equal the current account (S-I = CA). If the domestic private-sector’s desire to save is positive, then the only way for the public sector (i.e., government) to net save is for the economy as a whole to […]
Menzie Chinn at Econbrowser breaks down US import data by sector to argue the following (see entire article here): What is clear is that consumer goods do not vary that much; now, part of auto and auto parts is going to satisfy consumer demand as well, and here we do have some evidence in support […]
Spanning the period April 14, 2010 to June 7, 2010, the euro lost 12.5% in value against the $US (this is not a trade-weighted measure of the currency value, but it’ll do). As the currency tumbled, Q2 nominal export income grew quickly over the quarter for the top 5 economies in the Eurozone: Germany, 6% […]
Last week the IMF released its World Economic Outlook Update for the October 2009 forecast. The global economy is expected to grow 3.9% in 2010, an 0.8% upward revision. In fact, the 2010 growth projections were generally upward with little offset in 2011 (often when you get a surprise and positive economic release, the current […]