David Friedman: The Technology of Freedom
19 Sep 2018 Leave a comment
in David Friedman, economics of crime, law and economics, property rights Tags: privacy
The current state of the economy Edward Prescott 2013
19 Sep 2018 Leave a comment
in budget deficits, business cycles, economic growth, Edward Prescott, Euro crisis, fiscal policy, global financial crisis (GFC), great recession, macroeconomics, monetary economics
How New Keynesian economics betrays Keynes
19 Sep 2018 Leave a comment
Roger Farmer has an interesting essay on evolution of macro thought (HT: Cafe Economics). It is actually an extract from his book Prosperity for All.
He reviews the history of macro thought and says New Keynesians miss a basic point from Keynesian view:
The program that Hicks initiated was to understand the connection between Keynesian economics and general equilibrium theory. But, it was not a complete theory of the macroeconomy because the IS- LM model does not explain how the price level is set. The IS- LM model determines the unemployment rate, the interest rate, and the real value of GDP, but it has nothing to say about the general level of prices or the rate of inflation of prices from one week to the next.
To complete the reconciliation of Keynesian economics with general equilibrium theory, Paul Samuelson introduced the neoclassical synthesis in 1955. According to this theory…
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Big Green Inc.: Inside the $4 billion U.S. foundations funding Green activists
18 Sep 2018 Leave a comment
Green blob [credit: storybird.com]
It seems some people in the US with money to burn are queuing up to try and buy the weather they think they want, with fossil fuels their primary target. The concept of natural variation of the climate has either totally escaped them, or they must think it belongs in the past only.
H/T The GWPF
Major foundations handed nearly $4 billion to global warming activists, anti-fossil fuel campaigners and other environmentalists over the past eight years, according to a database debuted Monday, writes Michael Bastasch.
The website Big Green, Inc. tracked $3.7 billion in commitments from major grant-making foundations to environmental causes from 2008 to 2016.
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Majority are suspicious of people who wear masks in public
18 Sep 2018 Leave a comment
in economics of crime, economics of religion, law and economics Tags: political correctness
More on warp speed means instant death
18 Sep 2018 Leave a comment
in economics of media and culture Tags: space
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