Isn't that precisely how all of life is? There are literally and metaphorically always the rush hours when it's raining and you can't get a cab and then the sunny days, when the city has been vacated, and cabs are everywhere.
When the stimulus was kicking in, adding significant demand to the economy, real GDP and job growth quickly turned less negative, with GDP turning positive later in 2009, and job growth beginning in early 2010. Moreover, as the stimulus flattened, so did they.
The fact that virtually no one actually thinks reaching the fiscal cliff is a good thing when push comes to shove tells you everything you need to know about how absurd and besides the point our debates about deficit issues have been.
2011-11-29-20111107bothsidesnow.jpgMatalin and Spitzer debate whether Santorum's religious conservatism has veered into Church Lady Comstockery ("Is it Satan?"). Will Mitt's money win Michigan? Then: why did the GOP cave and is Charles Murray the cultural equivalent of OWS?
Keynesianism was dealt a serious blow. What's left in the ruins? Who knows? But what occurs on a debate stage or a presidential podium is really not what defines modern economics. Or at least it shouldn't.
For someone who’s been dead for 65 years, John Maynard Keynes has amazing presence. Open a paper, click on a blog or TV, and
• The central banker is left to shoulder the burden, seeking all the while to pressure the fiscal authority to amend the
Friedrich Hayek, the intransigent opponent of socialism that Glenn Beck and conservatives admire, also saw himself equally opposed to their conservative agenda, something conservatives ignore at their peril.
Igor Stravinsky, the most famous composer of the 20th century Pablo Picasso, the most famous painter of the 20th century
"It's as if people suddenly forget the world is heliocentric," Mitchell wrote (referring to the fact that the earth revolves
First, in a sane society (definitely not ours), 9.4% unemployment would mean that all of our needs and wants have been met
In Le Temps, Seitenfus criticized the UN peacekeeping missions, Washington's repeated and negative interventions in Haiti
It is not too long -- less than a decade I would guess -- before the Keynesian Experiment comes to an end, and the world can finally get back on a more productive and healthy track.
Unfortunately for the Haitian government, for economists and for the public at large, no single person or agency actually
As I said then, and repeat once more, it's critically important to identify and punish the bad guys with a vengeance and
As in the 1930s, the economy is suffering a sharp decline in aggregate demand and loss of business confidence. Long experience