Summary: Two of our greatest challenges in the 21st century are climate change and management of economic crises. They’re similar in that their mathematics are unlike that of the normal life — the routine world of averages, variances, and bell-curve distributions. These phenomena take us deep into the mysteries of science. Before we can predict …
Summary: Today we discuss the nature of the great monetary experiment now under weigh, with five years of zero interest rates and repeated doses of quantitative easing. What does it mean to say this is an “experiment”? If we cannot reliably predict the outcome, at least let’s understand how we got into this predicament. . …
Summary:Â Yesterday we examined the condition of the US economy. Today we look at a major driver of our prosperity, and what might be its long-term effects. . Contents How we got here What do we have to show from 5 years of massive stimulus? Why continue the stimulus? Putting the stimulus in perspective For …
What about the past and future effects of the economic stimulus? Read More »
Summary: Next in a series about economics and the global government debt crisis, Ed Dolan talks to us about modern monetary theory. How does it differ from mainstream economics? And he has a few words to say about the Austrian school. This was lifted from the comments of yesterday’s post. Other posts in this series: …
Ed Dolan talks to us about modern monetary theory. Can it save us? Read More »
Economic theory as a guiding light for government action in this crisis. But which theory? The dominant Keynesian economic theory, or that of the Austrian School? (see the links at the end for background information about each). Here is an excerpt from the Drobny Global Monitor of 5 March 2009, by Andres Drobny (see his bio …
Economic theory as a guiding light for government action in this crisis Read More »
