via Samuelson vs. Friedman, David Henderson | EconLog | Library of Economics and Liberty and An Interview With Paul Samuelson, Part One — The Atlantic.
Paul Samuelson on where he disagreed with Milton Friedman on macroeconomic policy
19 Mar 2015 Leave a comment
in budget deficits, business cycles, economic growth, fiscal policy, inflation targeting, macroeconomics, Milton Friedman, monetarism, monetary economics Tags: fiscal policy, monetary policy, Paul Samuelson, rules versus discretion, stabilisation policy
Edmund Phelps on Keynesian macroeconomic policy
25 Feb 2015 2 Comments
in budget deficits, business cycles, economic growth, F.A. Hayek, fiscal policy, global financial crisis (GFC), great recession, macroeconomics, monetary economics Tags: Austrian real business cycle theory, Edmund Phelps, FA Hayek, Keynes in macroeconomic policy
The Affordable Care Act and the Labor Market
15 Feb 2015 Leave a comment
in fiscal policy, great recession, labour economics, labour supply, macroeconomics Tags: Casey Mulligan, Obamacare, taxation and the labour supply
The shrewdest summary of rational expectations economic policy was by Paul Samuelson
02 Feb 2015 Leave a comment
in business cycles, fiscal policy, inflation targeting, macroeconomics, monetary economics Tags: new classical macroeconomics, Paul Samuelson, policy credibility, rational expectations, regime uncertainty, Stephen Williamson, time inconsistency, Tom Sargent
Hayek on why Keynesian macroeconomics initially became popular and stayed popular despite eventual empirical failure
31 Jan 2015 8 Comments
Greece should default and abandon the euro – Jeff Miron
27 Jan 2015 Leave a comment
in budget deficits, currency unions, development economics, economic growth, economic history, Euro crisis, fiscal policy, global financial crisis (GFC), growth disasters, law and economics, macroeconomics, poverty and inequality Tags: currency unions, Euroland, Greece, optimal currency area, sovereign default
Paul Samuelson and Robert Lucas both agree that economists have solved the problem of economic depressions
24 Jan 2015 Leave a comment
in business cycles, fiscal policy, great depression, great recession, history of economic thought, macroeconomics, monetary economics, Robert E. Lucas Tags: Paul Samuelson, prosperity and depression, The fatal conceit, The pretence to knowledge
Henry Hazlett on the fiscal stimulus and other manifestations of the broken window fallacy
19 Dec 2014 1 Comment
in applied welfare economics, fiscal policy, macroeconomics Tags: broken window fallacy, fiscal stimulus, Henry Hazlett
Interview with Robert Lucas on the global financial crisis and the great recession
17 Dec 2014 Leave a comment
in budget deficits, business cycles, economic growth, fiscal policy, global financial crisis (GFC), great depression, great recession, macroeconomics, monetarism, monetary economics Tags: bank runs, GFC, great depression, great recession, Robert E. Lucas
My bullet train trip deep into the Japanese mountains
15 Dec 2014 Leave a comment
in fiscal policy, transport economics
My first trip on the bullet train was zipping from Tokyo to Kyoto and Osaka and then to Hiroshima. A great experience was my trip to Japan in 1993. An excellent tourist destination. I recommend Japan to anyone as a tourist destination. The language barrier is not a problem – there are plenty of English signs.
When I returned to Japan as a student in 1995, the last of my bullet train trips was into the Japanese mountains.
The class field trip travelled on a spur on the Bullet train to the Yamagata city in Yamagata prefecture.
This bullet train line weaved its way through the mountains and rarely hit any sort of speed. The bullet train was no faster than the ordinary Japanese trains I have taken through the mountains in Japan.
When I asked my Professor of Land Transport when we are heading back from our field trip at an isolated rural train station waiting for the Bullet train, why was the Bullet train to such a remote place, he said that the Secretary General of the Liberal Democratic party always wanted the Bullet train to come to his home district.
Yamagata prefecture has a population of about 1 ½ million. Yamagata city has a population of about a quarter of 1 million. That is smaller than Greater Wellington.
The final station in this spur into Yamagata prefecture has a population of 40,000. Perhaps a Bullet train should come to my suburb in the eastern suburbs of Wellington?
Utopia, you are standing in it! 
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